AN IMPROVED PERT-TYPE FORMULA FOR STANDARD-DEVIATION

Authors
LAU HS LAU AHL
Citation
Hs. Lau et Ahl. Lau, AN IMPROVED PERT-TYPE FORMULA FOR STANDARD-DEVIATION, IIE transactions, 30(3), 1998, pp. 273-275
Citations number
11
Categorie Soggetti
Operatione Research & Management Science","Engineering, Industrial
Journal title
IIE transactions → ACNP
ISSN journal
0740817X
Volume
30
Issue
3
Year of publication
1998
Pages
273 - 275
Database
ISI
SICI code
0740-817X(1998)30:3<273:AIPFFS>2.0.ZU;2-#
Abstract
Recently Keefer and Verdini (Management Science, 39 (9), 1086-1091 (19 93)) and Lau, Lau and Zhang (IIE Transactions, 28, 183-192 (1996)) sho wed that well-known PERT-type formulas for computing standard deviatio n from fractiles are very unreliable, and they presented alternative f ormulas that are more accurate. This note extends their results and pr esent a formula that is simpler, more meaningful and yet more accurate .