On Shifted Weibull-Pareto Distribution
- UNCW Author/Contributor (non-UNCW co-authors, if there are any, appear on document)
- Indranil Ghosh (Creator)
- Institution
- The University of North Carolina Wilmington (UNCW )
- Web Site: http://library.uncw.edu/
Abstract: The Lomax distribution, known as Pareto (type II) distribution, is a heavy tail probability distribution used extensively in business, economics and in actuarial modeling. The Weibull-Pareto distribution defined by Alzaatreh et al. (2013a) has shown high bias and standard error for the ML estimates when the parameter c >> 1. In this paper we use the Lomax distribution to construct the Weibull-Lomax distribution. It is observed that the Weibull-Lomax distribution performs significantly better in terms of the ML estimations. Some structural properties of the Weibull-Lomax distribution are discussed.
On Shifted Weibull-Pareto Distribution
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Created on 4/12/2016
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Additional Information
- Publication
- http://dx.doi.org/10.5539/ijsp.v5n4p139
- Language: English
- Date: 2016
- Keywords
- Lomax distribution, Weibull-Lomax distribution, T-X family of distributions