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A Survey of Prediction Intervals and Their Applications

Summary: In many practical problems in industry, it is desired to use the results of a previous sample to predict the results of a future sample. For example, data on warranty costs on large motors over the past three years are to be used for planning purposes to obtain limits that will contain the warranty cost in the coming year with a high probability. Such problems can be handled by statistical prediction intervals. This paper presents methods, many developed only recently, for obtaining such intervals in sampling from normal, exponential, binomial, Poisson and other populations. Uses of the methods and specific applications are emphasized.

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  • Topics: Statistics
  • Keywords: Prediction intervals,Statistics,Poisson distribution,Normal distribution,Statistical methods,Distribution-free procedures,Prediction
  • Author: Hahn, Gerald J.; Nelson, Wayne
  • Journal: Journal of Quality Technology