Suppose an analyst would like to use the beta distribution to simulate the processing time of an activity. No field data are available for a goodness-of-fit test, but the analyst was told that the most likely processing time is 18.6 min, with a minimum of 10 min and a maximum of 20 min. It is also known that the average time is 17.8 min. With this information, the analyst can estimate the value of the shape parameters as follows: απ (x-a)(2c-a-b) β ẞ= a(b-x) (c-x)(b-a) (x-a)
Suppose an analyst would like to use the beta distribution to simulate the processing time of an activity. No field data are available for a goodness-of-fit test, but the analyst was told that the most likely processing time is 18.6 min, with a minimum of 10 min and a maximum of 20 min. It is also known that the average time is 17.8 min. With this information, the analyst can estimate the value of the shape parameters as follows: απ (x-a)(2c-a-b) β ẞ= a(b-x) (c-x)(b-a) (x-a)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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