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Feb 27, 2013

Prediction Intervals Are Even Better in JMP 8

JMP® 8 offers a new capability to generate simultaneous prediction intervals, which are very useful when making claims about the future performance of small lots of products. In the latest edition of his white paper Statistical Intervals: Confidence, Prediction, Enclosure (PDF file), José Ramírez updates his examples to incorporate simultaneous prediction intervals and summarizes the corresponding conclusions.

José also adds a new section titled "How Much Can We Trust Our Claims?" in which he describes how to determine whether the data used to make the claims based on statistical intervals are homogenous. He uses JMP to create a process behavior chart (control chart) for individual measurements. The chart captures a running record with limits that allow the analyst to decide whether the data is homogeneous, whether the process is stable and whether the claims made based on the prediction intervals are, therefore, valid.

Why not download the paper for some good reading?

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