The Beta Transmuted Pareto Distribution: Theory and Applications

Authors

Sher B. Chhetri, Department of Mathematical Sciences, Florida Atlantic University, Boca Raton, FL, USA
Hongwei Long
Gokarna Aryal

Author Country (or Countries)

USA

Abstract

In this paper a composite generalizer of the Pareto distribution is proposed and studied. The genesis of the beta distribution and transmuted map is used to develop the so-called beta transmuted Pareto (BTP) distribution. Several mathematical properties including moments, mean deviation, probability weighted moments, residual life, distribution of order statistics and the reliability analysis are discussed. The method of maximum likelihood is proposed to estimate the parameters of the distribution. We illustrate the usefulness of the proposed distribution by presenting its application to model real-life data sets.

Suggested Reviewers

N/A

Digital Object Identifier (DOI)

http://dx.doi.org/10.18576/jsap/060201

Recommended Citation

B. Chhetri, Sher; Long, Hongwei; and Aryal, Gokarna (2017) "The Beta Transmuted Pareto Distribution: Theory and Applications," Journal of Statistics Applications & Probability: Vol. 6: Iss. 2, Article 1.
DOI: http://dx.doi.org/10.18576/jsap/060201
Available at: https://digitalcommons.aaru.edu.jo/jsap/vol6/iss2/1