Measurement and Statistics

Editor's Pick

Driven by Metrics

by Okes, Duke

Performance metrics are a necessary part of managing an organization. However, they have good and bad impacts on individual behavior, so organizations need to find ways to maximize the good while minimizing the potential damage....

Back to Basics: A Quality Investment

by Choudhary, Neetu

Finance is the language of business. All investments must consider the profit they will earn, called the return on investment (ROI)....

Statistics Spotlight: Close Enough?

by Barsalou, Matthew

I once explained to a colleague the concept of confidence intervals around the mean of a sample. To simplify the concept, and for training purposes only, I told my colleague that I live 30 km from work. I don’t believe I live 30.000 km from work....

Statistics Spotlight: Getting the Luster Back

by Lucas, James M.; Snee, Ronald D.

A textile fiber manufacturing plant was having a production yield problem. On occasion, the plant was producing yarn that was not bright enough. The low-luster yarn was recycled, thus reducing yields and increasing manufacturing costs....

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