Question: in probability theory and statistics. the gamma distribution Is a two-parameter family of continuous probability distributions. The exponential distribution. Erlang distribution. and chi-squared distribution are

family of continuous probability distributions. The exponential distribution. Erlang distribution. and chi-squared

in probability theory and statistics. the gamma distribution Is a two-parameter family of continuous probability distributions. The exponential distribution. Erlang distribution. and chi-squared distribution are special cases of the gamma distribution. The two parameters of the gamma distribution are alpha. a shape parameter. and beta. a scale parameter. In Excel. a random value can be simulated from a gamma distribution using (3AM MAINVIRANDH. alpha. beta}. Consider a gamma distribution characterized by shape parameter alpha - 2 and scale parameter beta - 5. Estimate the 00th percentile of this distribution using Monte Carlo simulation. Use GAMMAINV to randomly generate n I 2000 values of the distribution. then find the 80th percentile of the simulated gamma data values. Understanding that answers from simulations are subject to sampling variability, choose the answer choice that is WWW. Hint: After completing this simulation problem. you should close the Excel le. Open Excel simulation spreadsheets involving the RANDO function can slow down your computer's performance as the RANDl) function repeatedly re-evaiuates. computer's performance as the RANDU function repeatedly rteevaluates

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