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To clarify the math (that you square the individual standard deviations into variances) - then we can use the rule: the variance of the sum is the sum of the variances |
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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 and, for example a [[triangular distribution]] might be used, depending on the application.
In three-point estimation, three figures are produced initially for every distribution that is required, based on prior experience or best-guesses:
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