Open AccessGeneralizations of pareto distribution with applications to lifetime data
Author(s) -
Hanan Haj Ahmad,
Ehab M. Almetwally
Publication year - 2021
Publication title -
journal of physics. conference series
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.21
H-Index - 85
eISSN - 1742-6596
pISSN - 1742-6588
DOI - 10.1088/1742-6596/1943/1/012141
Subject(s) - pareto principle , monotonic function , lomax distribution , monotone polygon , pareto distribution , goodness of fit , pareto interpolation , mathematics , distribution (mathematics) , hazard , generalized pareto distribution , function (biology) , computer science , mathematical optimization , statistics , extreme value theory , mathematical analysis , geometry , organic chemistry , chemistry , evolutionary biology , biology
In this paper, we consider five different generalizations of the well-known Pareto distribution. In literature, different generalizations were used so that the newly generated lifetime distributions were more flexible and can be used to model skewed, symmetric, and monotone data. We consider some important characteristics of the generalized Pareto distributions, such as monotonicity and hazard rate function. Comparisons are performed between the different generalizations of Pareto distribution. Modelling real data examples are done using the different goodness of fit tests. Numerical methods are used to conduct the suggested tests, and resulted with the models that are most suitable for describing the behaviour for these data. Finally, the conclusion is given to illustrate the purpose of this work