Triangular

Nick T. Thomopoulos
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Nick T. Thomopoulos: Illinois Institute of Technology, Stuart School of Business

Chapter Chapter 12 in Statistical Distributions, 2017, pp 107-112 from Springer

Abstract: Abstract When an analyst is in need of a continuous distribution in a project and has little information on the shape, the often practice is the employ the triangular distribution. The analyst seeks estimates on the min, max and most-likely values of the variable and from these forms the distribution. The probability density goes up linearly from the min to the mode, and linearly down to the max value. Another related distribution is the standard triangular that ranges from zero to one. This latter distribution in easier to manage in a mathematical sense, and is used to define the probability distribution, cumulative probability, mean, variance and standard deviation. The conversion of all statistics and probabilities from the standard triangular to the triangular distribution is readily obtained.

Keywords: Most-likely Value; Triangular Distribution; Cumulative Probability; Standard Deviation; Mathematical Sense (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-65112-5_12

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DOI: 10.1007/978-3-319-65112-5_12

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