Is the Burr distribution supported in this package.??? If not, are there very similar distributions available.??

I am looking a future projections of utility (electric) costs on the island of Kauai. I know they will not go down in the future, and could rise at varying rates over the future based on oil prices, etc.

Instead of using a flat rate (e.g., 6%) over time, based on historical data, I would like to simulate alternative outcomes and their likelihood in order to assess the potential value of using solar PV instead of buying power from the local utility.

Hi,

We don't provide the Burr distribution, although it's fairly straightforward so we could add it in a future release.

There are similar distributions, but they will depend on the parameters - for example, some Burr curves could be estimated with a beta distribution, others with a logistic. But these would be approximations only and not exactly consistent.

It's also possible to model the Burr in Excel because it has a closed form. To do that, you could use a uniform random distribution and write the distribution function as a cell formula.

I hope that's helpful,

Alex
alex@riskamp.com