How to make Weibull probability plot and its confidence bounds in MATLAB + median rank explanation )
Eventually after several years I got time to make a video about Weibull distribution and how to plot its confidence intervals. I wanted to make this video several years ago, but due to the fact that I could not find the proof of one formula i put it aside. Recently one of my student needed to plot confidence bounds of Weibull plot. I decided to explain how to do it in MATLAB. Also since I could not find the proof of the formula for calculation of median rank, i decided to tackle it myself instead of wasting time to find a solution on internet. It took only very short time to find the answer.
I also explained a bit in detail the meaning of median rank and why it is calculated the way it is.
Here you can download the MATLAB codes:
https://drive.google.com/file/d/1sjbz...
Here you can download an excel file written by prof. Rob Ross, which you can use for free to do statistical analysis such as Weibull plot.
https://iwo.nl/downloads/
Finance: N=72
subs=3195
Available budget (N): 3195-100-72*(72+1)=-2161
Storage limit: 2^ln(3195)=268,6
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