Tutorial-IDD
Topics for Further Reading:
A house builder has house sold data in the surrounding area. He want to find out a best fit distribution of the data for follow-up analysis.
We can compare and select a fitting model based on the following results
Following distributions are good fit for the data. Their P value are larger than 0.05 in the Goodness of Fit Test table. And the points on the probability plot follow a straight line within the confidence bounds.
The closer all the scatter points are to the reference line, the better the distribution is for the dataset.