To start the fitting process, click the Run Fit icon on the Fitting toolbar.
For each of the distributions specified in the previous step, BestFit will try to find the set of parameters that make the closest match between the distribution function and your data set. Keep in mind, BestFit does not produce an absolute answer, but rather identifies a distribution that most likely produced your data. Always evaluate your BestFit results quantitatively and qualitatively, examining both the comparison graphs and statistics before using a result.
BestFit uses two methods to calculate the best distributions for your data set. For sample data, distribution parameters are estimated using Maximum Likelihood Estimators (MLEs). For density and cumulative data (collectively known as curve data), the method of least squares is used to minimize the root-mean square error between the curve points and the theoretical function.
Sample Data – Maximum Likelihood Estimators (MLEs)
Curve Data – The Method of Least Squares
