SAS provides procedures to fit common probability distributions to sample data. You can use PROC UNIVARIATE in Base SAS or PROC SEVERITY in SAS/ETS software to estimate the distribution parameters for approximately 20 common distributions, including normal, lognormal, beta, gamma, and Weibull. Since there are infinitely many distributions, you may
Let’s face it, supply chains today can feel like one headline away from chaos. Whether it’s new tariffs, labor strikes, warehouse fires or unpredictable weather patterns, retail and consumer goods companies are constantly juggling curveballs. Each disruption comes with a price: tighter margins, out-of-stock products, unhappy customers and many operational
Many common probability distributions contain terms that increase or decrease quickly, such as the exponential function and factorials. The numerical evaluation of these quantities can result in numerical overflow (or underflow). This is why we often work on the logarithmic scale: on the log-scale, the numerical computations for equations such
