I'm modeling product lifetimes. If I know what I want the average lifetime of a product in my model to be, is it possible to fit a Weibull distribution to only that data point?
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5nah: since you want two parameters out, you gotta put two parameters in. – John Madden Jul 18 '23 at 18:47
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3To expand on @JohnMadden's comment: The Weibull distribution has two parameters, scale $\lambda$ and shape$k$ , and the mean depends on these two parameters: mean = $\mu = \lambda , \Gamma(1+1/k)$. If you only know $\mu$, you will find tons of solutions for $k$ and $\lambda$. – Ute Jul 18 '23 at 19:20