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 ...

While Excel is useful for many applications, it is an indispensable tool for those managing statistics. Two common terms used in statistics are Standard Deviation and ...

The T-Value is a common statistical calculation with a very wide range of applications. In the business world, it can help in making educated financial predictions and projections. For example, a ...

The normal distribution (also known as the Gaussian distribution) is arguably the most important distribution in Statistics. It is often used to represent continuous random variables occurring in ...

Learn what residual standard deviation is, how to calculate it in regression analysis, and why it's crucial for measuring predictability and goodness-of-fit in data modeling.

How They Differ and Practical Uses in Finance and Investing Henry Hoenig has three decades of journalism experience as a news and economics editor in the U.S. and Asia, handling coverage of global ...

When you have the average production of three machines, it is easy to calculate the average or mean production. You just add ...

Flickr via Google Images Standard deviation is a concept that's thrown around frequently in finance. So what is it? When working with a quantitative data set, one of the first things we want to know ...

Standard deviation is a common statistical measurement and is defined by Oxford Dictionaries as: ‘A quantity expressing by how much the members of a group differ from the mean value for the group.’ In ...