The parameter estimates define the best-fitting parameter estimates for the chosen model. All other parametric growth curve graphs and statistics are based on this model.
You cannot determine from the estimated parameters whether the selected model fits the data well. Use the plots and trend tests to determine whether the model adequately fits the data.
For the air conditioning data, Minitab used the maximum likelihood method of estimation for the power-law process model. The estimated shape parameter is 1.10803 and the estimated scale parameter is 128.763.
The engineer can be 95% confident that the interval (0.984256, 1.24738) contains the true shape for the population. Because the shape estimate is not significantly different from 1, the engineer can conclude that the systems are failing at a constant rate over time.