Estimation of Parameters of Pert Distribution by Using Method of Moments
Abstract: The method of moments has been widely used for estimating the parameters of a distribution. Usually lower order moments are wont to find the parameter estimates as they're known to possess less sampling variability. The method of moments may be a technique for estimating the parameters of a statistical model. It works by finding values of the parameters that end in a match between the sample moments and therefore the population moments (as implied by the model). the Method of moment Estimator is used to find out Estimates the parameters of PERT Distribution. We also compare equispaced and unequispaced Optimally Constructed Grouped data by the method of an Asymptotically Relative Efficiency. We also computed Average Estimate (AE), Variance (VAR), Standard Deviation (STD), Mean Absolute Deviation (MAD), Mean Square Error (MSE), Simulated Error (SE) and Relative Absolute Bias (RAB) for both the parameters under grouped sample supported 1000 simulations to assess the performance of the estimators. Keywords: Method of Moments, PERT Distribution, equispaced and unequipped Optimal Grouped sample