What is VariateTools?
VariateTools is a software package that enables an analyst to perform mathematical operations between random variables. The result of each operation can be stored and used in later operations.
The analyst may begin with known distribution types, like uniform, normal, triangular, exponential and beta distributions. These may be truncated if bounds are known, or exponentiated to yield logarithmic distributions (lognormal, loguniform). The result of an operation will have an empirical distribution that is generally not a well-known type. Nevertheless, the analyst can determine its properties (mean, standard deviation, pdf, cdf), use it in subsequent operations, and even generate random values from the distribution to use in stochastic simulations.