The Triangular Distribution is used to model uncertainty within a fixed range when values near the middle of the range are more likely than values near the extremes. It generally does not occur naturally, and instead is used as an approximation. The Triangular Distribution is used in some seismic risk studies, and also in electric utility local area planning.
The Triangular Distribution has three parameters: min, max, and mode. The distribution extends from min to max and peaks at mode (which must lie between min and max). The only restriction on the parameters is that min<mode<max. The distribution is:
The equations for the mean and variance are:
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