[R] Percent damage distribution

[diegol]

Thank you, Ben.

The beta distribution seems flexible enough. I knew this distribution but
had never seen it in this kind of application, and somehow did not recall
it.
rbeta(n, shape1 = 5, shape2 = 1) looks reasonable to start with for my
simple task. If I had a real dataset I could parameterize it with a standard
method.


Regards,
Diego



Ben Bolker wrote:
> 
> diegol <diegol81 <at> gmail.com> writes:
> 
>> 
>> 
>> R version: 2.7.0
>> Running on: WinXP
>> 
>> I am trying to model damage from fire losses (given that the loss
>> occurred).
>> Since I have the individual insured amounts, rather than sampling dollar
>> damage from a continuous distribution ranging from 0 to infinity, I want
>> to
>> sample from a percent damage distribution from 0-100%. One obvious
>> solution
>> is to use runif(n, min=0, max=1), but this does not seem to be a good
>> idea,
>> since I would not expect damage to be uniform.
>> 
> 
> 
>  Beta distribution (rbeta(...)) or
> logistic-binomial distribution
> plogis(rnorm(...)) .
> 
>   See e.g. 
> 
> Smithson, Michael, and Jay Verkuilen. 2006. A better lemon squeezer?
> Maximum-likelihood regression with beta-distributed dependent variables.
> Psychological Methods 11, no. 1 (March): 54-71. doi:2006-03820-004.
> 
> ______________________________________________
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> PLEASE do read the posting guide
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> and provide commented, minimal, self-contained, reproducible code.
> 
> 


-----
~~~~~~~~~~~~~~~~~~~~~~~~~~
Diego Mazzeo
Actuarial Science Student
Facultad de Ciencias Económicas
Universidad de Buenos Aires
Buenos Aires, Argentina
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