Simulating Burr Type VII Distributions through the Method of 𝐿-moments and 𝐿-correlations

Mohan D. Pant and Todd C. Headrick

Journal of Statistical and Econometric Methods, 2014, vol. 3, issue 3, 2

Abstract: Burr Type VII, a one-parameter non-normal distribution, is among the less studied distributions, especially, in the contexts of statistical modeling and simulation studies. The main purpose of this study is to introduce a methodology for simulating univariate and multivariate Burr Type VII distributions through the method of 𝐿-moments and 𝐿-correlations. The methodology can be applied in statistical modeling of events in a variety of applied mathematical contexts and Monte Carlo simulation studies. Numerical examples are provided to demonstrate that 𝐿-moment-based Burr Type VII distributions are superior to their conventional moment-based analogs in terms of distribution fitting and estimation. Simulation results presented in this study also demonstrate that the estimates of 𝐿-skew, 𝐿-kurtosis, and 𝐿-correlation are substantially superior to their conventional product-moment based counterparts of skew, kurtosis, and Pearson correlation in terms of relative bias and relative efficiency when distributions with greater departure from normality are used.

Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.scienpress.com/Upload/JSEM%2fVol%203_3_2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spt:stecon:v:3:y:2014:i:3:f:3_3_2

Access Statistics for this article

More articles in Journal of Statistical and Econometric Methods from SCIENPRESS Ltd
Bibliographic data for series maintained by Eleftherios Spyromitros-Xioufis ().