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Questions about Pareto Plot of Estimates

teeratornk

Dear community,

I have three short questions about Pareto Plot of Estimates.

1. How is t Ratio calculated?

2. How can I interpret t Ratio?

3. The solid black line is cumulative of t Ratio; however, how can I interpret this line?

Thank you!

Accepted answers

All comments

Peter_Bartell

1. t ratio is the parameter estimate/ standard error of the parameter estimate.

2. t ratio is but one 'statistic' that can be used to evaluate the significance level of a given parameter estimate.

3. The curve is just the sum of the absolute values of the t ratio, it's main purpose is to give you an idea of the relative explanatory power of each estimate wrt to the others.

teeratornk

Thank you for your reply.

Is it possible to change from t-ratio to estimated effect instead?

Sincerely,

Peter_Bartell

I would generally advise against trying to intentionally change names for statistics, tests, and general nomenclature in JMP to other 'words'. In general JMP developers go to great lengths to use generally accepted or recognized words/terms in analysis platform dialogue windows, reports, and general user interface applications because these words have recognizable and often standard meaning to both producers and consumers of the information contained in the reports or JMP user interface items. Plus all the JMP documentation ties to these words...not words that are replaced by an individual user.

Dan_Obermiller

You would not want to use the estimated effect for the pareto because the effect is influenced by the scale of the x variables. For example, suppose temperature on a scale from 300 to 500 and pressure on a change from 1 to 2 are both in the model. If they have equal impact, the parameter for temperature must be much smaller because of the larger scale. The t ratio removes that effect.

teeratornk

I understand your points. However, are there any ways that I can see let say which parameter has the greatest effect?

Sincerely,

Mark_Bailey

This script might be useful. It creates an Effects Plot.

teeratornk

Thank you very much!

teeratornk

Thank you for a very good effects plot.

Would it be possible to know which equation you use to calculate effects?

Sincerely,