Three-point estimation: Difference between revisions

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''E'' is a [[weighted average]] which takes into account both the most optimistic and most pessimistic estimates provided. SD measures the variability or uncertainty in the estimate.
In ProjectProgram 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 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: