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

The Standard Deviation is the basic metric to measure volatility. However, the Standard Deviation is an absolute measurement, not a relative measurement. To compare the volatility of two or more data ...

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 ...

Brian Beers is a digital editor, writer, Emmy-nominated producer, and content expert with 15+ years of experience writing about corporate finance & accounting, fundamental analysis, and investing.