A Modified Power Family of Distributions: Properties, Simulations and Applications

Mohamed Hussein and Gauss M. Cordeiro
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Mohamed Hussein: Department of Mathematics and Computer Science, Alexandria University, Alexandria 21544, Egypt
Gauss M. Cordeiro: Departamento de Estatística, Universidade Federal de Pernambuco, Cidade Universitária, Recife 520740, Brazil

Mathematics, 2022, vol. 10, issue 7, 1-16

Abstract: In this paper, we present a new class of distributions called the modified power family by adding an extra shape parameter. Some of its structural properties are derived. Three special cases of the new family are considered and estimated using the method of maximum likelihood. The validity of the method of maximum likelihood is illustrated via Monte Carlo simulations. The importance and flexibility of the new family are empirically illustrated, partly due to efficient modeling of several real data. We compare the proposed family with some distributions and special models generated from other classes using classical statistical measures.

Keywords: density function; hazard rate; maximum likelihood; modified power; weighed distributions (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
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