Gamma distribution
Characteristics
- Defined for non-negative random variables
- Positively skewed
- Flexible in shape
Parameters
- Can have two parameters, p1 and p2, and offset
- E[X] = p1 / p2 and Var[X] = p1 / p2 2
- If = 1, reduces to the exponential
- The coefficient of skewness is Cs = 2 Cv2