Generating a PDF for data set using IQR, mean and median
- From: Jake Mulch <jakemulch@xxxxxxxxxxx>
- Date: Fri, 22 Apr 2005 11:10:13 EDT
Hopefully this is quite a straightforward stats question . . . I'm doing a Monte-Carlo analysis and need to generate a probability distribution function to sample from.
The PDF needs to reflect as accurately as possible the distribution of a set of data which represents the price of some goods.
I have the mean price, the median price, the 25th, 75th ntiles and the maximum and minimum price (i.e. the range and inter-quartile range) but no more detail than this.
What is my best approximation for this PDF? My current best try is to use the 0.5*IQR/0.674 as an approximation for the standard deviation use a Normal distribution for the PDF. Any comments or suggestions most welcome!
Thanks, Jake Mulch
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