A link between two-sided power and asymmetric Laplace distributions: with applications to mean and variance approximations
Motivated by our investigations of refinements of the project evaluation and review technique (PERT), we have developed a reparameterization of the asymmetric Laplace distribution and found it to be a useful tool for extending and improving various three-point approximations of continuous distributions (pioneered by Pearson and Tukey (Biometrika 52(3/4) (1965) 533)) by specifying the values of two quantiles and the mode.
Volume (Year): 71 (2005)
Issue (Month): 4 (March)
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- Donald L. Keefer & Samuel E. Bodily, 1983. "Three-Point Approximations for Continuous Random Variables," Management Science, INFORMS, vol. 29(5), pages 595-609, May.
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