A New One-parameter G Family of Compound Distributions: Copulas, Statistical Properties and Applications
Mohamed Abo Raya
Abstract
This work introduces a new one-parameter compound G family. Relevant statistical properties are derived. The new density can be “asymmetric right skewed with one peak and a heavy tail”, “symmetric” and “left skewedwith one peak”. The new hazard function can be “upside-down”, “upside-down-constant”, “increasing”, “decreasing” and “decreasing-constant”. Many bivariate types have been also derived via different common copulas. The estimation of the model parameters is performed by maximum likelihood method. The usefulness and flexibility of the new family is illustrated by means of two real data sets.
Topics & Concepts
Bivariate analysisConstant (computer programming)Copula (linguistics)MathematicsFlexibility (engineering)HazardProbability density functionFunction (biology)Statistical parameterStatistical physicsApplied mathematicsStatisticsEconometricsComputer sciencePhysicsProgramming languageEvolutionary biologyOrganic chemistryChemistryBiologyStatistical Distribution Estimation and ApplicationsAdvanced Statistical Methods and ModelsProbabilistic and Robust Engineering Design