Principal Consultant & Managing Director of GreyRigge Associates Ltd.
During one development meeting early in my industrial career, a process development group member asked me whether the value my group had reported in one result was okay to use. I con dently replied “Yes, it’s ne. It’s about 40, somewhere between 38 and 42. The other person raised his eyebrows. “About 40?” In response, I somewhat awkwardly mumbled “Yes, probably . . . about that” – an answer not met with full understanding, but rather concern.
Balancing the stats tightrope BPI Article Apr 2012.pdf
This article talks about the importance of understanding variability of data. It also discusses approaches that can be taken to risk assess factors that impact upon variability and how best to try to control them.
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