Can somone please answer these questions in your own words. Thanks.
1-This is the kind of statement for which I would like to some statistical analysis.
I tend to think of sports:
A 7 footer in basketball might weigh 245 pounds, but a 6 foot 4 inch football player might weigh 300 pounds.
So, my question might be: what kind of statistical data collection and analysis might we use to accept or reject the statement that tall people tend to weigh more than short people?
2-I remember when we were attempting to implement Statistical Process Control (SPC) at a major aerospace company in order to help reduce scrap, rework and repair. As we attempted to show how processes could be improved, we were told: all of our launches have been successful, why should we change anything?”
Guess what, the forecasts, based on past experience, said we would be perfect with future launches. Two of the next three failed!
Do you have any examples where forecasting has failed? Succeeded?
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