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{{Short description|Technique used in management and information systems}}
The '''three-point estimation''' technique is used in management and [[information systems]] applications for the construction of an approximate [[probability distribution]] representing the outcome of future events, based on very limited information. While the distribution used for the approximation might be a [[normal distribution]], this is not always so. For example, a [[triangular distribution]] might be used, depending on the application.
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In Program Evaluation and Review Techniques ([[PERT]]) the three values are used to fit a [[PERT distribution]] for [[Monte Carlo Method|Monte Carlo]] simulations.
The [[triangular distribution]] is also commonly used. It differs from the [[Double-triangular distribution|double-triangular]] by its simple triangular shape and by the property that the mode does not have to coincide with the median. The mean ([[expected value]]) is then:
: ''E'' = (''a'' + ''m'' + ''b'') / 3.
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{{Reflist}}
{{Project cost estimation methods}}
{{DEFAULTSORT:Three-Point Estimation}}
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