The Kumaraswamy transmuted Pareto distribution

Sher B. Chhetri (), Alfred A. Akinsete (), Gokarna Aryal () and Hongwei Long ()
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Sher B. Chhetri: Florida Atlantic University
Alfred A. Akinsete: Marshall University
Gokarna Aryal: Purdue University Northwest
Hongwei Long: Florida Atlantic University

Journal of Statistical Distributions and Applications, 2017, vol. 4, issue 1, 1-24

Abstract: Abstract In this work, a new five-parameter Kumaraswamy transmuted Pareto (KwTP) distribution is introduced and studied. We discuss various mathematical and statistical properties of the distribution including obtaining expressions for the moments, quantiles, mean deviations, skewness, kurtosis, reliability and order statistics. The estimation of the model parameters is performed by the method of maximum likelihood. We compare the distribution with few other distributions to show its versatility in modeling data with heavy tail.

Keywords: Kumaraswamy distribution; Quadratic rank transmutation map (QRTM); Pareto distribution; Hazard function; Maximum likelihood estimation; 60E05; 62E15; 62H12 (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1186/s40488-017-0065-4

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