The General Segmented Distribution

Michael Vander Wielen and Ryan Vander Wielen

Communications in Statistics - Theory and Methods, 2015, vol. 44, issue 10, 1994-2009

Abstract: We develop a distribution supported on a bounded interval with a probability density function that is constructed from any finite number of linear segments. With an increasing number of segments, the distribution can approach any continuous density function of arbitrary form. The flexibility of the distribution makes it a useful tool for various modeling purposes. We further demonstrate that it is capable of fitting data with considerable precision—outperforming distributions recommended by previous studies. We suggest that this distribution is particularly effective in fitting data with sufficient observations that are skewed and multimodal.

Date: 2015
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Citations: View citations in EconPapers (2)

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DOI: 10.1080/03610926.2012.758743

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