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‘Mean’ as a Measure of Central Tendency

‘Mean’ as a Measure of Central Tendency

Table of contentsMean – Measure of Central Tendency What is the Mean (or Average)?Knowing the shape of your data…Related Articles Mean – Measure of Central Tendency A measure of central tendency is a single value that describes the way in which a set of...
Hypothesis Testing Cheat Sheet

Hypothesis Testing Cheat Sheet

Table of contentsHypothesis Testing Cheat SheetKey ConceptsHypothesis Testing StepsTypes of ErrorsCommon Statistical TestsExamples of Statistics Hypothesis Testing Cheat SheetRelated Articles: Estimated reading time: 8 minutes Hypothesis Testing Cheat Sheet In this...
How to Use a Payoff Matrix to Prioritize Solutions

How to Use a Payoff Matrix to Prioritize Solutions

Table of contentsHow to Use a Payoff Matrix to Prioritize SolutionsWhat is a Payoff Matrix?How does a typical Payoff Matrix work?How to Use the Payoff Matrix to Prioritize Solutions?Before Prioritizing ImprovementsSetting the Stage for Improvement PrioritizationStart...
Fishbone Diagram: A Tool for Identifying Issues

Fishbone Diagram: A Tool for Identifying Issues

A Fishbone Diagram, also known as a Cause and Effect Diagram or Ishikawa Diagram, helps identify the root causes of a problem. It serves as a powerful tool for problem-solving. Named for its resemblance to a fish’s skeleton, this diagram visually maps out all...
How can a Plate of Spaghetti help LEAN your Process?

How can a Plate of Spaghetti help LEAN your Process?

Table of contentsHow to Draw a Spaghetti DiagramDrawing a Spaghetti DiagramRelated Articles How to Draw a Spaghetti Diagram In LEAN Six Sigma events we use a simple tool called the Spaghetti Diagram to understand the impact of movement. Our goal is to reduce the...