How to interpret the threshold parameter

The threshold parameter provides an estimate of the minimum location of the data distribution along the x-axis. The threshold is either estimated from the data or specified based on historical process knowledge.

The threshold parameter defines the location of the minimum value for your data. For example, you are interested in studying the failure of a system with λ = 5. This means that the failures start to occur only after 5 hours of operation and cannot occur before.

Effect of the threshold parameter for a Weibull distribution

This graph shows the effect of the different values of the threshold parameter on the Weibull distribution.

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