17 Beta Weibull hazard

17 Beta Weibull hazard - Click to edit Master subtitle...

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Unformatted text preview: Click to edit Master subtitle style 9/7/10 More Continuous Distributions April 09, 2010 9/7/10 The Beta Distribution • The Beta distribution is another general distribution useful for modeling many random variables. The primary characteristic of the Beta is that it is bounded both above and below. • The Beta is defined for values between 0 and 1 only. • Like the Gamma, it has two 9/7/10 Example • The uniform distribution is a special case of the Beta distribution when &=|=1. • The Beta distribution takes on a wide variety of shapes, but is restricted to be between 0 and 1. We can easily add two more parameters to create a distribution with any lower and upper bound we desire. 9/7/10 The Weibull and Exponential • The Weibull distribution is defined for positive x and is right skewed. • Originally proposed for interpretation of fatigue data. • It is most commonly used as a model of lifetime in reliability theory as we shall shortly see....
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This note was uploaded on 09/06/2010 for the course IE 111 taught by Professor Storer during the Spring '07 term at Lehigh University .

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17 Beta Weibull hazard - Click to edit Master subtitle...

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