A multimodal beta distribution with application to economic data

• Autorzy: Saralees Nadarajah , Samuel Kotz
• Języki publikacji: EN

Abstrakty

EN

Beta distributions are popular models for economic data. In this paper, a new multimodal beta distribution with bathtub shaped failure rate function is introduced. Various structural properties of this distribution are derived, including its cdf, moments, mean deviation about the mean, mean deviation about the median, entropy, asymptotic distribution of the extreme order statistics, maximum likelihood estimates and the Fisher information matrix. Finally, an application to consumer price indices is illustrated to show that the proposed distribution is a better model to economic data than one based on the standard beta distribution.

Kategorie tematyczne

• 62E99: None of the above, but in this section
• 33C90: Applications

• Wydawca: Institute of Mathematics Polish Academy of Sciences
• Czasopismo: Applicationes Mathematicae
• Rocznik: 2007
• Tom: 34
• Numer: 1
• Strony: 1-14

Daty

wydano

2007

Twórcy

autor

Saralees Nadarajah

• School of Mathematics, University of Manchester, Manchester M60 1QD, UK

autor

Samuel Kotz

• Department of Engineering Management, and Systems Engineering, George Washington University, Washington, DC 20052, U.S.A.

Identyfikatory

DOI

10.4064/am34-1-1