Variation creates unknown risk within a process. However, knowing how to identify and manage that risk can be a secret weapon, enabling you to avoid waste and allocate resources more effectively.
Minitab Statistical Software empowers you to model data and quantify risk. Monte Carlo simulation in Minitab Workspace can help you predict risk and learn how to manage it.
Presented by our expert statistician, Jennifer Atlas, Minitab Global Market Development Manager, this webinar will highlight how you can:
1. Ensure products meet their intended specifications by studying the process inputs and developing an (y=f(x)) equation that describes the process.
2. Take the equation further by considering the uncertainty in the inputs, which results in a more realistic view of the response.
3. Perform Monte Carlo simulation to further predict process capability, and identify the best strategy to determine optimal process settings using parameter optimization and sensitivity analysis.