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Rick WicklinMarch 20, 2023 0

Estimate a Markov transition matrix from historical data

In a previous article about Markov transition matrices, I mentioned that you can estimate a Markov transition matrix by using historical data that are collected over a certain length of time. A SAS programmer asked how you can estimate a transition matrix in SAS. The answer is that you can

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Analytics | Learn SAS | Programming Tips

Rick WicklinMarch 15, 2023 0

Fitting a distribution to an expert's opinion: An application of the metalog distribution

Most homeowners know that large home improvement projects can take longer than you expect. Whether it's remodeling a kitchen, adding a deck, or landscaping a yard, big projects are expensive and subject to a lot of uncertainty. Factors such as weather, the availability of labor, and the supply of materials,

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Analytics | Learn SAS | Programming Tips

Rick WicklinMarch 13, 2023 0

Use the metalog distribution in SAS

A previous article describes the metalog distribution (Keelin, 2016). The metalog distribution is a flexible family of distributions that can model a wide range of shapes for data distributions. The metalog system can model bounded, semibounded, and unbounded continuous distributions. This article shows how to use the metalog distribution in

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