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  17. How do we implement DMAIC on a project which decreases the Credit Exposure . Example if I have 100 customers with total credit limit of $100000, I identify there are few customers (for example -10 customers) which are inactive and then I decrease the credit limit of those . There by reducing the overall credit exposure for these customers from a total of $100000 to $90000.
  18. Q 363. What is meant by "noise factors" in context of experimentation? How can one overcome the effects of these noise factors? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Ques
  19. All the published answers have correctly explained the 4 logical relationships. However these had to be supported with examples as well and hence there are two winners for this question - Suresh Sekar and Dipankar Acharya.
  20. Last week
  21. In Project management, after identification of activities, we analyze them if any relationships exist between those. If relationships exist, it is better to highlight them in Project Schedule Network Diagrams to maintain the project schedule better. There are four (4) types of dependency relationships. Taking an example of building a house on a piece of land : 1) Finish to Start : Predecessor must finish before Successor can start. (Example : Land must be purchased before house building can start) 2) Start to Start : Predecessor must start before Successor c
  22. 4 Types of logical relationships: 1. Finish to Start 2. Start to Start 3. Finish to Finish 4. Start to Finish Finish to Start: A logical connection in which a next-in-line cannot start until a forerunner activity has finished. This relation constraint doesn’t impact the independent activity. It affects only the dependent, so in the below case, it is activity B. The first character ‘F’ shows the finish state of activity A, at this state, activity B can started. The second character ‘S’ is the rule on the next step to make it dependent on the Finish state of
  23. 4 Logical Relationships in a Project Management Logical Relationships or Task dependencies, denotes the start and finish time (or dates) of a task as it is connected to other activities. The relations are known as : i) Finish-to-Start (FS), ii) Start-to-Start (SS), iii) Finish-to-Finish (FF), iv) Start-to-Finish (SF). Each relationship behaves differently as successors & predecessors interaction. Activities of Predecessor: The planned activity w
  24. While all published answers have highlighted that correlation will not be able to help us predict or optimize the relationship between the two variables, the other reason is that square of correlation coefficient gives R-Squared only for linear relationships with one factor. If there are multiple factors or it is a non-linear relationship then we again need to do the full regression. Both these points were right highlighted by Dipankar and hence his answer has been chosen as the winner.
  25. Q 362. What are the 4 types of Logical Relationships (or task dependencies) in project management? Provide a suitable example for each of the relationships. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as p
  26. The correlation coefficient merely shows the relationship (positive or negative) between two variables - and the extent of the same - via the value of the coefficient (-1 to +1). It does not express the relationships between the 2 variables or can't predict the value of the dependent value based on the changing value of the independent one. The Regression analysis expresses the same via an equation, analysis of R square (how much of the variation of the output is explained by the equation) and also can predict the "Y" based on changing values of the "X's". F
  27. Correlation:- used when a researcher wants to know if the variables under study are correlated or not, if yes then how strong are their relation. For regression analysis, to make future projections, a functional relationship between 2 variables is established. Comparison Summary Table Comparison Basis Correlation Regression
  28. Regression analysis is used to find the relationship between the set of independent variable and the dependent variable or you can say how your independent variables that can influence the dependent variables. we are going for full regression because how the changes in each independent variable are related to changes in the dependent variable. It allows you to determine which factors brings most impact, the factor we no need to consider for analysis and how these factors influencing each other.
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