Positive Correlation

Trend Analysis Trend analysis is a statistical method for determining the equation that best fits the data in a scatter plot. Trend analysis quantifies the relationships of the data, determines the equation, and measures the fit of the equation to the data. This method is also known as curve fitting or least squares.

Trend analysis can determine optimal operating conditions by providing an equation that describes the relationship between the dependent (output) and independent (input) variables. An example is the data set concerning experience and scores on the solder certification test (see Figure 20-21).

The equation of the regression line, or trend line, provides a clear and understandable measure of the change caused in the output variable by every incremental change of the input or independent variable. Using this principle, we can predict the effect of changes in the process.

One of the most important contributions that can be made by trend analysis is forecasting. Forecasting enables us to predict what is likely to occur in the future. Based on the regression line we can forecast what will happen as the independent variable attains values beyond the existing data.

Control Charts The use of control charts focuses on the prevention of defects, rather than their detection and rejection. In business, government, and industry, economy and efficiency are always best served by prevention. It costs much more to produce

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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