Tag: confidence intervals

The concept of a confidence band is usually associated with regression analysis. We will also explain why a confidence band is not the same as a confidence interval.

Do you know how to account for the margin of error in your customer surveys? A survey is a valuable assessment tool in which a sample and information relate to a larger population. Surveying is like tasting a soup, a few spoonfuls tell what the whole pot tastes like. An Example of Margin […]

One of the pleasures of teaching Green Belts is helping to eliminate the fear of statistical analysis. One technique is to place an emphasis on not only when and why a tool or methodology is used but also what the data says in “plain English.” Memorizing complex formulas may be the goal of many Master […]

Many companies spend considerable amounts of money on customer surveys every year. They then use those survey results to amend strategies, design new products and services, focus improvement activities and to celebrate success. But can practitioners always rely on the results they see? Here is a fictional example: MyInsurance, a life insurance company with worldwide […]