Accurate Closed-Form Approximations for the Sum of Correlated Weibull Random Variables
Faissal El Bouanani, Daniel Benevides da Costa
Abstract
Faissal El Bouanani, Daniel Benevides da Costa
Abstract
In this letter, a highly accurate approximate approach for the sum of arbitrary correlated Weibull random variables is proposed. Specifically, closed-form approximate expressions for the probability density function, cumulative distribution function, and moment generating function are derived, and their accuracies are corroborated through Monte Carlo simulations for several representative examples.
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In this letter, a highly accurate approximate approach for the sum of arbitrary correlated Weibull random variables is proposed. Specifically, closed-form approximate expressions for the probability density function, cumulative distribution function, and moment generating function are derived, and their accuracies are corroborated through Monte Carlo simulations for several representative examples.
Key concepts: Moment-generating function, Cumulative distribution function, Weibull distribution, Probability density function, Monte Carlo method, Random variable, Mathematics, Moment (physics)