PsiMetalog2(coefficients)
Returns a variate from a meta-logistic distribution approximated by a table of historical data.
The coefficients argument is either a range or an array of two to sixteen (2 to 16) numerical elements.
PsiMetalog2 differs from PsiMetalog in the following ways.
- Fitting a distribution using PsiMetalog2Fit guarantees a feasible or valid distribution.
- Fitting is improved when using the PsiMetalog2 distribution, even though PsiMetalog2 lacks bound arguments.
- PsiMetalog2 behaves the same as PsiMetalog when there are six or fewer coefficients (n ≤ 6). All statistics and curves will be identical for n ≤ 6.
- PsiMetalog2 has three additional statistics: modes, anti-modes and feasible.
Parameters
coefficients
Range of Function Values
7-Term Quantile Function
See the website, http://metalogdistributions.com/, for more information.
Feasibility
Indicates whether the distribution, as defined by its coefficients, is feasible or infeasible.
Feasibility = True: Indicates the fitting succeeded with a feasible distribution, making it suitable for use in a simulation model.
Feasibility = False: Indicates that the fitting succeeded with an infeasible distribution, making it not suitable for use in a simulation model.
Feasibility = N/A: Indicates that fitting failed. The reason is unknown. The distribution with returned coefficients should not be used in a simulation model.
Modes
Returns all local maximums (for the x-axis) on the PDF function. Only Metalog distributions may have more than one mode. This is one major reason why Metalog distributions are superior in fitting complicated data.
Anti-modes
Returns all local minimums on the PDF function. Only Metalog distributions may have anti-modes; other distributions do not exhibit anti-modes. Note: There must be 2 modes and more than 5 coefficients in order for an anti-mode to exist.
See the website, http://metalogdistributions.com/, for more information.