A new Pareto-type distribution with applications in reliability and income data
A new Pareto-type distribution is introduced and studied. This new model is a generalization of the well-known Pareto distribution. We derive some of its probabilistic and inferential properties. We deduce the mathematical form of the Lorenz curve and the Gini index associated with the new model. Th...
| Autores: | , , |
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2016 |
| País: | Brasil |
| Recursos: | Universidade Federal do Rio Grande do Norte (UFRN) |
| Repositorio: | Repositório Institucional da UFRN |
| Idioma: | inglés |
| OAI Identifier: | oai:repositorio.ufrn.br:123456789/49698 |
| Acesso em linha: | https://repositorio.ufrn.br/handle/123456789/49698 https://doi.org/10.1016/j.stamet.2016.01.002 |
| Access Level: | acceso abierto |
| Palavra-chave: | Pareto distribution Income distribution Maximum likelihood estimation Gini coefficient Reliability |
| Resumo: | A new Pareto-type distribution is introduced and studied. This new model is a generalization of the well-known Pareto distribution. We derive some of its probabilistic and inferential properties. We deduce the mathematical form of the Lorenz curve and the Gini index associated with the new model. The maximum likelihood estimators are derived and their performance are evaluated through a Monte Carlo simulation study. Finally, we illustrate the flexibility of the new distribution by means of three applications to real data sets. |
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