Reliability Analysis … now what? Part 2
podcast episode with speaker Chris Jackson
Last month’s webinar was ‘Reliability Analysis … now what?’ And we showed how to slightly ‘tweak’ all those textbook reliability analyses into USEFUL ACTIVITIES. What good is a 90 % confidence bound on reliability? What does this mean for profit? Or fleet size? Or mission success? We solved this problem by identifying the ‘likely’ ways we can explain our data. In fact – there is a whole bunch of statistics on creating the ‘likelihood’ of an explanation of what we see. We use this ‘likelihood’ in most statistical applications – including those USEFUL ACTIVITIES we discussed above. [Read more…]