6533b871fe1ef96bd12d0e41

RESEARCH PRODUCT

Intelligent Constructing Exact Tolerance Limits for Prediction of Future Outcomes Under Parametric Uncertainty

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The problem of constructing one-sided exact statistical tolerance limits on the kth order statistic in a future sample of m observations from a distribution of log-location-scale family on the basis of an observed sample from the same distribution is considered. The new technique proposed here emphasizes pivotal quantities relevant for obtaining tolerance factors and is applicable whenever the statistical problem is invariant under a group of transformations that acts transitively on the parameter space. The exact tolerance limits on order statistics associated with sampling from underlying distributions can be found easily and quickly making tables, simulation, Monte Carlo estimated percentiles, special computer programs, and approximation unnecessary. Finally, numerical examples are given, where the tolerance limits obtained by using the known methods are compared with the results obtained through the proposed novel technique, which is illustrated in terms of the extreme-value and two-parameter Weibull distributions.