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Triangular

In: Statistical Distributions

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  • Nick T. Thomopoulos

    (Illinois Institute of Technology, Stuart School of Business)

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.

Suggested Citation

  • Nick T. Thomopoulos, 2017. "Triangular," Springer Books, in: Statistical Distributions, chapter 0, pages 107-112, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-65112-5_12
    DOI: 10.1007/978-3-319-65112-5_12
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