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re: Question for Statistics Gurus
Posted on 7/13/14 at 6:59 pm to Volvagia
Posted on 7/13/14 at 6:59 pm to Volvagia
From your statistical test you should have an alpha value built in, draw those on either side of your line to show confidence interval and basically a correlation window.
You can use a simple percent error equaiton
Or you can do +/- 0.05 if your confidence interval is 0.95 (95%).
Is there a reason your red line is at 0 and the blue line is just above it, or is that your regression line?
You can use a simple percent error equaiton
Or you can do +/- 0.05 if your confidence interval is 0.95 (95%).
Is there a reason your red line is at 0 and the blue line is just above it, or is that your regression line?
This post was edited on 7/13/14 at 7:02 pm
Posted on 7/13/14 at 7:23 pm to Pectus
Red line is ideal (which is not always 0, but typically is), blue is regression.
I am not seeking to simply compute error....the system already does that with the RMSECV.
I was looking for a way to draw the line in the sand for what an acceptable error statistically speaking would be.
Here is another graph, from one of the messier models to illustrate what I mean:
The vast majority of samples are centered around zero. The overall error is also fairly low, +/- 3%
But there are some that are far outside that in spite of not being outliers, with an error closer to 30%.
My question is if there is an statistical method of where I can draw a line of acceptable error? Like if a certain number of samples is allowed outside of a range, but no more?
I am not seeking to simply compute error....the system already does that with the RMSECV.
I was looking for a way to draw the line in the sand for what an acceptable error statistically speaking would be.
Here is another graph, from one of the messier models to illustrate what I mean:
The vast majority of samples are centered around zero. The overall error is also fairly low, +/- 3%
But there are some that are far outside that in spite of not being outliers, with an error closer to 30%.
My question is if there is an statistical method of where I can draw a line of acceptable error? Like if a certain number of samples is allowed outside of a range, but no more?
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