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Triangular Distribution - Three-point estimating technique
| last edited by: Latha Thamma reddi on Apr 14, 2023 10:36 AM | login/register to edit this page |
 Triangular distribution is a common formula used when there is insufficient historical data to estimate duration of an activity. It is based on three points that consider estimation uncertainty and risk.
These are then combined to yield either a full probability distribution, for later combination with distributions obtained similarly for other variables, or summary descriptors of the distribution, such as the mean, standard deviation or percentage points of the distribution. The accuracy attributed to the results derived can be no better than the accuracy inherent in the 3 initial points, and there are clear dangers in using an assumed form for an underlying distribution that itself has little basis. References:
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| last edited by: Latha Thamma reddi on Apr 14, 2023 10:36 AM | login/register to edit this page |
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