Reliability Analysis … now what? Part 3
podcast episode with speaker Chris Jackson
This is the third in our webinar series ‘Reliability Analysis … now what?’ The first webinar showed what it means to turn reliability data into something a decision-maker can use. Not a chart. Not a graph. Not a ‘p’ value. Not anything else that you find in a textbook but isn’t useful. Last month’s webinar talked about how the best way to do this is to use computers … but in an easy way! And we talked about creating a ‘posse’ of possible ‘ways’ to explain the data we see. And this webinar is about how we use this thing called Markov Chain Monte Carlo Simulation (MCMC) to create this ‘posse.’ And the ‘posse’ isn’t random … it is based on the ‘likelihood’ of each one being the correct one, which is how MCMC works.
You can’t really do this stuff without knowing the basics. So in this webinar, we show you the underlying mechanics of MCMC. And again – relax! We aren’t using equations – just pictures!
This Accendo Reliability webinar originally broadcast on 27 October 2020.
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To view the recorded video/audio of the event, visit the webinar page.
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