Has anyone worked on this question? I wonder how you can use Excel's solver to find 2 Gamma parameters. I think the solver only works to find one parameter. Anything that I missed? Thanks.
Solver can work on as many parameters as you feed it (click-drag), but I would not trust its answers for more than 2 parameters. For n parameters (n >= 3) it tends to fix n-1 and solve for the last one. Use R or MATLAB for those cases, but for a two-parameter gamma, you should be fine.
Hi. As Avi003 points out you can indeed select multiple parameters in Excel's Solver. In the Solver dialogue box in the "By Changing Cells" field, either select a range or select multiple cells separated by commas.
thanks! Thanks. I had some difficulty solving for 2-parameters Gamma in the first place, then after putting constraints as positive, it worked.
Great to see you giving these spreadhseet calculations a go - I'd be interested in hearing if you feel that they are useful in your exam preparation. Ta, David
I didn't work through this question on a computer. Nevertheless, this question nicely illustrates the concepts of nested models, goodness of fit, and various selection criteria.
