Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J. Brock is a CFA and CPA with more ...

The extent to which products meet specifications needs to be systematically monitored in a production process. Product quality will typically be defined by two quantities: deviations from stated ...

GUM, the internationally approved technique for calculating measurement uncertainty, is reliant on the availability of a certified reference sample. Likewise, to find any repeatable offset (systematic ...

In industry, one sometimes compares a sample mean and minimum, or a mean and maximum, to reference values to determine whether a lot should be accepted. Particularly prominent examples of such ...

Conventional statistical methods often test for group differences in a single parameter of a distribution, usually the conditional mean (for example, differences in mean body mass index (BMI; kg m −2) ...

The estimates of the parameters of the generalized geometric distribution are obtained by using ranked set sampling procedure. These estimates are compared with the ordered least squares estimates ...