Operational Excellence Interview Questions and Answers

ANOVA (Analysis of Variance) is a statistical method used to analyze the differences among group means in a sample.

• ANOVA compares the means of two or more groups to determine if there is a significant difference between them.

• It divides the total variability in a dataset into between-group variability and within-group variability.

• ANOVA is commonly used in experimental research to test the effects of different treatments or interventions.

• There are different types of ANOVA such ...read more

Six Sigma is a data-driven methodology used to improve processes by reducing defects and variation.

• Six Sigma aims to achieve near perfection in processes by identifying and eliminating causes of defects or errors.

• It uses statistical tools and techniques to measure and analyze process performance.

• Organizations use Six Sigma to increase efficiency, reduce costs, and improve customer satisfaction.

• Example: A manufacturing company implementing Six Sigma to reduce product defects a...read more