In the warranty example, Example 12.2, we introduced the gamma distribution to model the right skewness of the lifetime distribution. Experiment to see how the results change if you use the triangular...


In the warranty example, Example 12.2, we introduced the gamma distribution to model the right skewness of the lifetime distribution. Experiment to see how the results change if you use the triangular distribution instead. Let its minimum value be 0, and choose its most likely and maximum values so that this triangular distribution has approximately the same mean and standard deviation as the gamma distribution in the example. (Use @RISK’s Define Distributions window and trial and error to do this.) Then run the simulation and comment on similarities or differences between your outputs and the outputs in the example.



May 25, 2022
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