What is the role of Statistics in Industrial sector( particularly in Quality Control)?

Using statistics you can track defect/failure rates and doing so watch for anomalies that might signal an equipment breakdown.





Statistics can tell you how frequently to check products for defects and how many to check. Statistics can also help you determine an appropriate course of action should a defect be found - for example, how many widgets need to be scrapped if more than a certain percentage are found to be defective in a sample size.





Statistics can help with cost/benefit analysis to help determine if/when to invest in new or additional equipment.





Using statistics to track defects and failures can also help determine more accurate product costs and SRPs.





Been a long time since I've taken any business/statistics classes, but these are some things that come to mind.