The BetaPert distribution an alternative for modelling the triangular distribution in Excel

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Disappointingly, Excel does not have a ready-made triangular function. Several sites provide workarounds that are effective but also laborious. • In this video we will take another approach. We will use Excel’s beta function to model an improved version of the triangular distribution. Four input parameters define the beta distribution: the minimum, maximum, the alpha, and the beta. The alpha and beta determine the shape and are difficult to gauge and define. Since the fifties, a special case of the beta distribution is available to model throughput times in project management. This is the beta-pert distribution that calls for the same input parameters as the triangular distribution. Minimum, mode, and maximum. The beta-pert has all the advantages of the triangular distribution. Moreover, it is less blocky, and its shape is smooth, and organic. We provide an example in the accompanying Excel sheet. • Good luck! • André Koch Stachanov Solutions Services • You can download the Excel-sheet used in this video yourself through this link: https://www.stachanov.com/excel/q-Xc1... • Feel free to browse other Excel-sheets available through this link: https://www.stachanov.com/en/downloads • tags: • André Koch,Stachanov,Stachanov Solutions Services,Beta-Pert,Beta,Beta distribution,micro-finance,excel,excel model,probability distributions,risk modelling,stochastic modelling,monte carlo simulation,uncertainty,minimum,maximum,most likely alue,mode,BETA.DIST,BETADIST,BETAINV,BETA.INV,Oracle Crystal Ball,triangular distribution,

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