Category Archives: Business Finance

From Maker to Manager, Part 4: Learning Business Finance

Regardless of your technical background, the higher you move within an organization, the more you [...]

You’re Using the Wrong Average!

Imagine riding your motor scooter one sunny afternoon to your auntie’s home who lives near [...]

A Framework for Analyzing Random Variables

by Mark Fiedeldey and Ray Harkins Business today is more competitive than ever. As a [...]

The Tragedy of the Commons

Imagine you were a rancher with a herd of cattle and a small field in [...]

Measuring Quality Control Effectiveness

Aside from meeting specific requirements within quality standards such as ISO 9001 and ISO 13485, [...]

Profit, Profit, and More Profit

One of the common misunderstandings about business profit among non-finance professionals is that it there [...]

How do I Calculate Cpk with a Subgroup of 1?

This is one of the more common questions I received from students taking my “Process [...]

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Do I Really Need a Sample Size of 30?

Ever wonder what the appropriate sample size is when performing a capability study? Here is [...]

The Concentration Diagram: From Cholera to Quality

Metropolises in 2020, like New York and Shanghai, disconcertingly resembled London in 1831, in that [...]

Sturge’s Rule: A Method for Selecting the Number of Bins in a Histogram

In the early 20th century, German statistician Herbert Sturges formulated a method (Sturges’ Rule) of [...]