Probability plot correlation coefficient plot: Difference between revisions

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*Vertical axis: [[Probability plot correlation coefficient]];
*Horizontal axis: Value of shape parameter.
That is, for a series of values of the shape parameter, the [[Pearson product-moment correlation coefficient|correlation coefficient]] is computed for the [[probability plot]] associated with a given value of the shape parameter. These correlation coefficients are plotted against their corresponding shape parameters. The maximum correlation coefficient corresponds to the optimal value of the shape parameter. For better precision, two iterations of the PPCC plot can be generated; the first is for finding the right neighborhood and the second is for fine tuning the estimate.
 
The PPCC plot is used first to find a good value of the shape parameter. The probability plot is then generated to find estimates of the ___location and scale parameters and in addition to provide a graphical assessment of the adequacy of the distributional fit.
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==See also==
*[[Probability plot (disambiguation)|Probability plot]]
 
==External links==