A Safety Factor Approximation Based on Tukey's Lambda Distribution
- 1 October 1977
- journal article
- Published by Taylor & Francis in Journal of the Operational Research Society
- Vol. 28 (3) , 743-746
- https://doi.org/10.1057/jors.1977.151
Abstract
When a normal distribution of forecast errors is assumed one often ends up with a decision rule for the safety factor k involving the tail area of the unit normal distribution. Some form of table or rational approximation is necessary to find the k value once the desired tail area is known. Here we develop a simple approximation based on Tukey's lambda distribution.Keywords
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