The
Triangular distribution is often used when no or little data is
available. It has 3 parameters, the minimum and the maximum that
defines the range, and the more likely (the peak). The
distribution is skewed to the left when the peak is closed to the
minimum and to the right when the peak is closed to the maximum.
It is a simple distribution that as its name implied, has a triangular
shape.
The following example shows input and output from 3 simulations.
Each has the same minimum and maximum set at 1 and 4,
respectively. The peak, however, increases from simulation 1 to
simulation 3. All three simulations have 50,000 iterations and
alpha of 5% (for 1 tail test).
The output shows the estimate of skewness, mean,
stand deviation, maximum value, minimum value, lower confidence
interval, and upper confidence interval from each of the 3
simulations. The simulated minimum and maximum for the three
simulations are very close the assigned parameters, 1 and 4,
respectively.
