Selection of Normal Prior Given Knowledge of Two Quantiles
Finds the mean and standard deviation of a normal density that matches knowledge of two quantiles of the distribution.
normal.select(quantile1, quantile2)
quantile1 |
list with components p, the value of the first probability, and x, the value of the first quantile |
quantile2 |
list with components p, the value of the second probability, and x, the value of the second quantile |
mean |
mean of the matching normal distribution |
sigma |
standard deviation of the matching normal distribution |
Jim Albert
# person believes the 15th percentile of the prior is 100 # and the 70th percentile of the prior is 150 quantile1=list(p=.15,x=100) quantile2=list(p=.7,x=150) normal.select(quantile1,quantile2)
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