Advances and Applications in Statistics
Volume 61, Issue 1, Pages 33 - 63
(March 2020) http://dx.doi.org/10.17654/AS061010033 |
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THE EXPONENTIATED GENERALIZED POWER FUNCTION DISTRIBUTION: THEORY AND REAL LIFE APPLICATIONS
Azam Zaka, Ahmad Saeed Akhter and Riffat Jabeen
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Abstract: The generalization of the probability distribution has gained great attention in statistical field. In this study, a new exponentiated generalized power function distribution (EGPFD) is proposed. Dallas [9] introduced the power function distribution as the inverse of Pareto distribution. We suggest a new distribution that will modify the power function distribution by using Cordeiro et al. [8] technique. The various properties of the new distribution have been discussed in detail such as moments, vitality function, conditional moments and order statistics, etc. We have also characterized the exponentiated generalized power function distribution based on conditional moments (right and left truncated mean) and doubly truncated mean. The shape of the new distribution has been studied for applied sciences. The aim of the study is to increase the application of the power function distribution. Basically, power function distribution is highly positive skewed distribution but using Cordeiro et al. [8] technique, this distribution can be used for approximately symmetric data (normal data). For this, we have studied the real life application of the distribution by using three different data sets. After analyzing data, we conclude that the proposed model EGPFD performs better in all the three data sets while compared to different competitor models. |
Keywords and phrases: power function distribution, exponentiated generalized power function distribution, characterization of truncated distribution, entropies.
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