This function handles discrete as well as continuous cumulative probabilities.
- The simplest and most common case is continuous cumulative probability, which means that if a probability lies between two points on the specified cumulative curve, the function will interpolate to determine the deviate. This is in most cases what you want, for example, if you are determining a market price, or the time taken to relet a property.
- A discrete distribution is, in this context, where a value of the deviate must be one of the values specified in the input data. For example, if we determining how many exploration wells are required to strike oil. Of course you could use a continuous function and then do the rounding yourself with SRound or similar, but this function offers you two rounding alternatives.
- You can round down, in other words, if the probability lies between two points in the input data (as it almost certainly will), it can return the vale of the deviate equal it the lower of the 2 relevant input values.
- Alternatively, it can round up in the same manner.