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Weibull Statistical Distribution General Characteristics If a quantity X, is a ‘time-to-failure’, the Weibull distribution gives a distribution for which the failure rate is proportional to a power of time. Specific Characteristics Key Measures: Shape, Scale Range
Continue Reading...Negative Exponential Statistical Distribution General Characteristics The Negative Exponential distribution has an inverted curve from the y-axis to the x-axis. Unlike Gamma distribution which involves two parameters, the Negative Exponential distribution involves only one parameter, and is thus easier
Continue Reading...Log Normal Statistical Distribution General Characteristics Log Normal distribution is also referred to as Gibrat distribution, Galton’s distribution, McAlister distribution or Cobb-Douglas distribution. A positive variable X is Log-Normally distributed if its Logarithm is normally distributed. Specific
Continue Reading...Truncated Normal Statistical Distribution General Characteristics Truncated Normal Distribution is derived from a normally distributed random variable, by bounding the random variable from either below, above or both. Truncations can be either; one-sided of lower tail truncation, one-sided of
Continue Reading...Erlang Statistical Distribution General Characteristics The Erlang distribution is, like its ‘parent’ distribution, a two-parameter family of continuous probability distributions. It is a special case of Gamma distribution. Specific Characteristics Key Measures: Mean, k Range of
Continue Reading...Gamma Statistical Distribution General Characteristics The Gamma distribution is a two-parameter family of continuous probability distributions. Some statistical distributions are special cases of Gamma distribution including; Erlang distribution, Exponential distribution and Chi-Squared distribution. Specific Characteristics Key Measures:
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