Assess the validity of statistical conclusions by analyzing the assumptions used and the robustness of the technique used. If you’re following along with the 2015 CQE Body of Knowledge, you’ll notice I’ve excluded a portion of the body of knowledge from this chapter:ĭrawing statistical conclusions – Distinguish between numeric and analytical studies. Probability terms and concepts – Describe concepts such as independence, mutually exclusive, multiplication rules, complementary probability, and joint occurrence of events.Terminology – Define and apply quantitative terms, including population, parameter, sample, statistic, random sampling, and expected value.
This chapter is dedicated to Probability, and specifically the following areas: Recall that the risk associated with any given failure mode is: Risk = Probability * Severity The concept of Probability gives us a tool that can be used to identify these high risk areas that require attention. Maximizing your impact on quality requires focus on the most important problem.įocusing on the most important problems starts by identifying the highest risk areas within your business that truly require your attention.
In today’s complex world the proper understanding and application of Probability will allow you to maximize your impact on Quality. This quote is more true today than it was when James originally wrote it in 1961. “A Pinch of Probability is worth a pound of Perhaps” – James Thurber.
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