Compare the discrete-approximation methods by doing the following: a. Use the extended Pearson-Tukey method to create three-point
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a. Use the extended Pearson-Tukey method to create three-point discrete approximations for the continuous distributions assessed in Problem 8.12. Use the approximations to estimate the expected values of the uncertain quantities.
b. Repeat part a, but construct the extended Swanson-Megill approximations. Compare your estimated expected values from the two methods.
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Making Hard Decisions with decision tools
ISBN: 978-0538797573
3rd edition
Authors: Robert Clemen, Terence Reilly
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