Tag Archives: mean


In my summary of Monte Carlo Simulators (May 2015), I said that they were good because they grant the use of ranges and allow you to see how changing the inputs affects the project; but the biggest problem was that they can take quite a bit of time to set up. Well, Guesstimate has changed this: you can now… Read More »

Standard Deviation

Let’s pretend that your data (it could be anything, but those who know Kanban might want to pretend it’s Lead Time) is: 13, 18, 13, 14, 13, 16, 14, 21,13 The control chart that results from that data looks something like this:   So what are those two red lines? What do ‘Upper Control Limit’… Read More »