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17 Beta Weibull hazard

17 Beta Weibull hazard - More Continuous Distributions...

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Click to edit Master subtitle style 9/7/10 More Continuous Distributions April 09, 2010
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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
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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.
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9/7/10 The Weibull and Exponential Distribution 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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