Our goal in writing this article is to identify a mathematically well-behaved Loss Function … one that doesn’t fly off to infinity or suffer discontinuities beyond certain threshold values. Loss functions are important because they successfully map process...
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Our goal in writing this article is to identify a mathematically well-behaved Loss Function … one that doesn’t fly off to infinity or suffer discontinuities beyond certain threshold values. Loss functions are important because they successfully map process deviation to potential financial losses, which in turn, allow us to calculate Warranty Costs and the Cost-of-Ownership.
Since we often utilize Normal Distributions to model temporal variations of process output characteristics, it seems only reasonable to try and identify a Normal Loss Function.
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