For more information on these two methods, go to Least squares estimation method and maximum likelihood estimation method.
If you have few or no failures in your data, you may want to use the Bayes analysis options to specify historical distribution parameters and obtain confidence intervals for your results. For more information, go to How to perform a reliability analysis with few or no failures.
Enter a confidence level between 0 and 100. Usually a confidence level of 95% works well. A 95% confidence level indicates that you can be 95% confident that the interval contains the true population parameter. That is, if you collected 100 random samples from the population, you could expect approximately 95 of the samples to produce intervals that contain the actual value for the population parameter (if all the data could be collected and analyzed).
From the drop-down list, indicate whether you want Minitab to display a two-sided confidence interval (Two-sided) or a one-sided confidence interval (Lower bound or Upper bound). A one-sided interval generally requires fewer observations and less testing time to be statistically confident about the conclusion. Many reliability standards are defined in terms of the worst-case scenario, which is represented by a lower bound.
You can only specify a confidence level and calculate confidence intervals when you select Maximum Likelihood from Estimation Method.