Applying percentile bounds to a probability distribution during simulation

ModelRisk function: VosePBounds(MinP,MaxP)

 

This function can be inputted as an extra parameter into distributions (after the U-parameter) and the result is a truncation of the distribution based on percentile values.

This truncation value is a minimum if only one parameter is entered, and a minimum and maximum if 2 values are entered.

Examples

VoseNormal(10,2,,VosePBounds(0.3,0.6)) generates values from a Normal distribution with mean 10 and standard deviation 2 where the values lie within the 30th and the 60th percentile.

VoseLogNormal(10,2,,VosePBounds(,0.6)) generates values from a LogNormal distribution with mean 10 and standard deviation 2 where the values are all smaller than the 60th percentile.

 

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