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The generalized two-sided power distribution

Author

Listed:
  • Jose Manuel Herrerias-Velasco
  • Rafael Herrerias-Pleguezuelo
  • Johan Rene van Dorp

Abstract

The generalized standard two-sided power (GTSP) distribution was mentioned only in passing by Kotz and van Dorp Beyond Beta, Other Continuous Families of Distributions with Bounded Support and Applications, World Scientific Press, Singapore, 2004. In this paper, we shall further investigate this three-parameter distribution by presenting some novel properties and use its more general form to contrast the chronology of developments of various authors on the two-parameter TSP distribution since its initial introduction. GTSP distributions allow for J-shaped forms of its pdf, whereas TSP distributions are limited to U-shaped and unimodal forms. Hence, GTSP distributions possess the same three distributional shapes as the classical beta distributions. A novel method and algorithm for the indirect elicitation of the two-power parameters of the GTSP distribution is developed. We present a Project Evaluation Review Technique example that utilizes this algorithm and demonstrates the benefit of separate powers for the two branches of activity GTSP distributions for project completion time uncertainty estimation.

Suggested Citation

  • Jose Manuel Herrerias-Velasco & Rafael Herrerias-Pleguezuelo & Johan Rene van Dorp, 2009. "The generalized two-sided power distribution," Journal of Applied Statistics, Taylor & Francis Journals, vol. 36(5), pages 573-587.
    • Handle: RePEc:taf:japsta:v:36:y:2009:i:5:p:573-587
    DOI: 10.1080/02664760802582850
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    Cited by:

    1. Andy Lewin & Ekundayo Shittu & Thomas Mazzuchi & Rene Dorp, 2021. "The correlation of cost and schedule variance in satellite programs: level of effort versus discrete cost accounts," Environment Systems and Decisions, Springer, vol. 41(2), pages 248-266, June.

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