Over the last few decades, Lean Six Sigma has become an integral part of the world of business. It is one of the most ...

This column is the fourth in a series on parameter estimation, leading up to the justly famous Kalman filter. The discipline is based on the fact that our knowledge of the state of any real-world ...

The empirical rule describes how points are clustered in a normally-distributed data set. It states that 95% of data fall ...

You can use the CDFPLOT statement to fit any of six theoretical distributions (beta, exponential, gamma, lognormal, normal, and Weibull) and superimpose them on the cdf plot. The following statements ...

Statisticians frequently assume that data follow a normal distribution when developing statistical methods and performing practical data analysis. In most introductory statistics textbooks, the ...

Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. Somer G. Anderson is CPA, doctor of accounting, and an accounting ...

A bell curve is a graph used to visualize the distribution of a set of chosen values across a specified group that tend to have central, normal values that peak, with low and high extremes tapering ...

A P-P plot compares the empirical cumulative distribution function (ecdf) of a variable with a specified theoretical cumulative distribution function F(·). The ecdf, denoted by F n (x), is defined as ...