New method revolutionizes distribution approximation for more accurate quantiles.
The article introduces a new way to approximate complex distributions with a simpler one called Generalized Integer (GI) Gamma distribution. This new method is more accurate than traditional approximations and can be used in calculations and testing. The researchers show how to replace a specific type of distribution with the GI Gamma distribution, and apply this to find the distribution of the product of certain random variables. This can help in analyzing sets of variables and obtaining more precise results.