Bivariate Unit-Weibull Distribution: Properties and Inference

Roger Tovar-Falón (), Guillermo Martínez-Flórez () and Luis Páez-Martínez
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Roger Tovar-Falón: Departamento de Matemáticas y Estadística, Facultad de Ciencias Básicas, Universidad de Córdoba, Monteria 230002, Colombia
Guillermo Martínez-Flórez: Departamento de Matemáticas y Estadística, Facultad de Ciencias Básicas, Universidad de Córdoba, Monteria 230002, Colombia
Luis Páez-Martínez: Departamento de Matemáticas y Estadística, Facultad de Ciencias Básicas, Universidad de Córdoba, Monteria 230002, Colombia

Mathematics, 2023, vol. 11, issue 17, 1-19

Abstract: In this article, we introduce a novel bivariate probability distribution that is absolutely continuous. Considering the Farlie–Gumbel–Morgenstern (FGM) copula and the unit-Weibull distribution, we can obtain a bivariate unit-Weibull distribution. We evaluate the main properties of the new proposal and use two estimation methods to estimate the parameter for the bivariate probability distribution. A brief Monte Carlo simulation study is conducted to assess the behavior of the employed estimation method and the characteristics of the estimators. Ultimately, as an illustration, a real-life application is presented, demonstrating the utility of the proposal.

Keywords: bivariate probability distribution; distribution for bounded data; proportion data; two-step estimation; copula (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
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