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Download a pdf copy of this help file here |
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Download a pdf copy of this help file here |
See also: Probability calculations in ModelRisk
VoseProb({x},Distribution,Cumulative)
Calculates the joint probability density (or probability mass) f({x}) and joint cumulative probability F({x}) for a set of values {x} against a specified distribution.
{x} - array containing one or more values.
Distribution - a distribution object.
Cumulative - optional boolean parameter (TRUE/FALSE) specifying if the cumulative (TRUE) probability of the {x} should be returned or not (FALSE, default).
These functions offer a simple way of calculating the likelihood of observations being drawn from a specified distribution, which is useful for various statistical models from distribution fitting to hypothesis testing, as well as predicting the likelihood of observing values in the future.
This function can be particularly efficient where you have a large set of values {x} as the required joint probability can be calculated in one single formula. However, the joint probability of probability density for a large set of values can quickly approach values too small for Excel to handle. Therefor ModelRisk has the VoseProb10 function that returns Log base 10 of the probability calculations.
For each distribution in ModelRisk separate probability calculation functions are implemented as well, as described here.
Example model