Walter Andrew Shewhart is regarded as the founder of Statistical Quality Control (SQC), an approach to production inspection based on the application of statistical theory. He developed SQC in the 1920s while working at Bell Telephone Laboratories. During this period, he was tasked with training...

Walter Andrew Shewhart is regarded as the founder of Statistical Quality Control (SQC), an approach to production inspection based on the application of statistical theory. He developed SQC in the 1920s while working at Bell Telephone Laboratories. During this period, he was tasked with training...

The periodic nature of auditing and monitoring allows for a valuable time-delay between the occurrence of an important business event and the analysis of that event. Advances in technology provide opportunities to reduce the time delay between the occurrence and analysis of a business process...

Historical investment performance is most commonly displayed as a charted time series of what are referred to simply as “growth” returns. Unfortunately, charts of such returns have a number of shortcomings that can severely limit their value as a means of providing investors with a...

Control charts are a widely used tool for statistical process control and have been continuously researched and applied for several decades. If the underlying assumptions are guaranteed, traditional charts such as the Shewhart, EWMA or CUSUM chart are a reasonable choice for monitoring...