Don’t like the data? Throw it out!

One of the first tasks our Black Belt students are asked to do when completing a project is collect data over time and create control charts for the primary output metric.  The purpose of these control charts is to establish baseline performance, and to determine if the process is stable. One of my students is […] read more

Which Index is Representative of How the Stock Market is Really Performing?

In an earlier article in this series I discussed the use of sample data drawn from a larger population for the purposes of making decisions.  The data in the sample must be representative of the larger population in order for it to be useful in decision making.  Consider the stock market in general.   What is […] read more