Simulation – Beta and Beta PERT Distribution
- July 21, 2010 at 9:58 am #53528
In simulation when to use Beta and when to use for Beta PERT Distribution. Some suggest if the underling distribution of historical data is not known, the users are recommended to use Beta PERT distribution. Readers, please let me know your comments.0September 17, 2010 at 10:13 pm #190756
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The PERT distribution is an “expert opinion” distribution that is similar to a triangular one, except that it has a smooth curve. It is useful for estimating schedule risk. There are uses for the general Beta distribution, but in my experience, and in talking with other experts, they are mostly of theoretical interest and have little industrial application.0
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