Abstract: A measurement device includes a measurement circuit that generates a parametric measurement data signal including parametric characteristics of an input signal. In an exemplary embodiment, the parametric characteristics are measured at predetermined increments of time. A population limit analyzer is coupled to the measurement circuit and generates limit data in response to the parametric measurement data signal. A measurement limit checker is coupled to the population limit analyzer and generates a signal indicating that the characteristics of the parametric measurement data signal is within acceptable limits. With this information, the user is able to quickly grade a selected device under test (DUT). A device performance measurement method includes receiving an input signal. Next, statistical characteristics are determined from the parametric measurements of the input signal. Performance limits are extrapolated from the statistical characteristics of the parametric measurements.