The planning values are any two of the estimates that you provided:
- Shape (Weibull distribution) or scale (other distributions) parameter
- Scale (Weibull or exponential distribution) or location (other distributions) parameter
- Percentile for a given percent
- A different percentile for a given percent
Minitab uses the two values that you provide to calculate the rest of the necessary planning information. For example, when you provide two percentiles, Minitab uses these values to determine the scale (exponential distribution), the shape and scale (Weibull distribution) or the scale and location (other distributions).
Type I right-censored data (Single Censoring)
Estimated parameter: 10th percentile
Calculated planning estimate = 393.094
Target Confidence Level = 95%
Precision in terms of a one-sided confidence interval that gives a lower bound
for the parameter.
Percentile values 500, 1000 for percents 12, 20
For the insulation data, you provided the following planning values:
500 for the 12th percentile
1000 for the 20th percentile