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Alpha-Power Pareto distribution: Its properties and applications.


ABSTRACT: In Statistical theory, inclusion of an additional parameter to standard distributions is a usual practice. In this study, a new distribution referred to as Alpha-Power Pareto distribution is introduced by including an extra parameter. Several properties of the proposed distribution, including moment generating function, mode, quantiles, entropies, mean residual life function, stochastic orders and order statistics are obtained. Parameters of the proposed distribution have been estimated using maximum likelihood estimation technique. Two real datasets have been considered to examine the usefulness of the proposed distribution. It has been observed that the proposed distribution outperforms different variants of Pareto distribution on the basis of model selection criteria.

SUBMITTER: Ihtisham S 

PROVIDER: S-EPMC6561572 | biostudies-literature | 2019

REPOSITORIES: biostudies-literature

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Alpha-Power Pareto distribution: Its properties and applications.

Ihtisham Shumaila S   Khalil Alamgir A   Manzoor Sadaf S   Khan Sajjad Ahmad SA   Ali Amjad A  

PloS one 20190612 6


In Statistical theory, inclusion of an additional parameter to standard distributions is a usual practice. In this study, a new distribution referred to as Alpha-Power Pareto distribution is introduced by including an extra parameter. Several properties of the proposed distribution, including moment generating function, mode, quantiles, entropies, mean residual life function, stochastic orders and order statistics are obtained. Parameters of the proposed distribution have been estimated using ma  ...[more]

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