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When Should I Use Confidence, Prediction, and Tolerance Intervals?

Be clear about what you want to assess and use the correct tool

Jim Frost
Fri, 04/19/2013 - 16:42
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In statistics, we use a variety of intervals to characterize the results. The most well-known of these are confidence intervals. However, confidence intervals are not always appropriate. Here we’ll take a look at the different types of intervals, their characteristics, and when you should use them.

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I’ll cover confidence intervals, prediction intervals, and tolerance intervals. Because tolerance intervals are the least-known, I’ll devote extra time to explaining how they work and when you’d want to use them.

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Comments

Submitted by mswis19 on Thu, 04/25/2013 - 14:39

Tolerence Intervals

Is the functionality of calculating tolerance intervals available in Minitab version 15?  I was not able to find it with the directions provided in the article.  Thanks.

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Submitted by Jim Frost on Fri, 04/26/2013 - 10:46

In reply to Tolerence Intervals by mswis19

Tolerance intervals in Minitab 16

Hi, Tolerance intervals were introduced in Minitab 16. If you'd like, you can try the free trial using the link in the article. Jim Frost
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