| Abstract | The obtention of the distribution of the product of independent and identically distributed random variables in a much manageable form. However, for the general case, this approach leads to a form which although being much manageable and in line with some previous results, suffers from serious problems of precision and convergence, which have been completely overlooked by other authors and which in most cases prevent its practical use. Nevertheless, it is based on these first results that the authors, using the concept of nearexact distribution, are able to obtain highly manageable but extremely accurate approximations for all cases of the distribution of the product of independent beta random variables. These near-exact approximations, given their high manageability, accuracy and proximity to the exact distribution, may in practice be used instead of the exact distribution. |
