Abstract:
The current article explores a probability distribution termed as weighted gammaPareto distribution (WGPD) by employing the notion of weighted probability and the concept of T-X family. It is assumed that the probability of an observation to get ascertained/ recorded is proportional to distribution function of Pareto. Therefore the weight function considered in this article is distribution function of Pareto. One of the members of T-X family known as gamma-Pareto distribution with transformed random variable following gamma and transformer random variable following Pareto is considered. The explored distribution acts as a generalization of some of the well-known probability distribution viz., gamma-Pareto distribution, weighted exponential-Pareto distribution, Pareto distribution, weighted gamma distribution, gamma distribution, weighted exponential distribution, generalized exponential distribution and exponential distribution. Different properties of WGPD have been studied. Finally the application of the introduced distribution is illustrated through its fitting to a real life and a simulated data set.
Page(s):
287-304
DOI:
DOI not available
Published:
Journal: Pakistan Journal of Statistics, Volume: 36, Issue: 4, Year: 2020
Keywords:
VonNeumann sampling Akaike information criterion AIC
,
TX family
,
Weighted probability distribution
,
MLE