Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Acceptance sampling plans and reliability testing constitute fundamental tools for ensuring product quality and performance. These methodologies allow manufacturers and researchers to assess a lot’s ...

Overview: This course provides the attendees with the tools needed to understand and implement acceptance sampling. We explain the basis for sampling plans, the binomial distribution, and show how it ...

The concepts of "equitable quality level" (EQL) and "error-areas" are defined in terms of the operating characteristic and the prior distribution of incoming lot quality. Asymptotic expansions are ...

Originating in the 1920s as a sampling scheme for agricultural regulatory inspectors, the square root (Sqrt) of the lot size (N) + 1 was semiformalized in an unpublished report by the Association of ...

Revision of statistical process control procedures, evaluation of control chart performance and statistical design of charts, control of high quality process, multivariate process control, new process ...

Sampling is a technique in which samples are drawn at random (without any favor or bias). For this, suitable measures or procedures may be laid down and adopted according to the nature and ...

This article looks at the current good manufacturing practice regulations from a statistical perspective while addressing their requirements and implications and inviting the industry to assess its ...