iSixSigma

normal curve

Improved Forecasting with Moving Averages and Z-scores

Forecasting is an integral part of business management. The better the forecast, the better management will be able to plan for the future. Although there are many methods for making forecasts, some are better suited than others for particular situations. For short-term forecasting, Black Belts can benefit from analyzing production trends and looking for special…

Estimation Method Aids in Analyzing Truncated Data Sets

When working with data sets, practitioners sometimes encounter metrics, such as out-of-roundness and loss-of-moisture measurements, with physical limits. In these scenarios, the data distribution is truncated at the value of physical limitation, creating a distribution outside of the criteria of a normally distributed population. With non-normal data, estimates and predictions using the normal distribution are…