Open AccessThe Type I Half Logistic Skew-t Distribution: A Heavy-Tail Model with Inverted Bathtub Shaped Hazard Rate
Author(s) -
O.D. Adubisi,
Ahmed Abdulkadir,
H. Chiroma,
U. Abbas
Publication year - 2021
Publication title -
asian journal of probability and statistics
Language(s) - English
Resource type - Journals
ISSN - 2582-0230
DOI - 10.9734/ajpas/2021/v14i430336
Subject(s) - bathtub , skew , mathematics , statistics , logistic regression , distribution (mathematics) , generalization , hazard , type (biology) , logistic distribution , heavy tailed distribution , probability distribution , mathematical analysis , computer science , geology , geography , telecommunications , paleontology , chemistry , archaeology , organic chemistry
In this article a new generalization of the skew student-t distribution was introduced. The two-parameter model called the type I half-logistic skew-t (TIHLST) distribution can fit skewed, heavy-right tail, and long-tail datasets. Statistical properties of the type I half-logistic skew-t (TIHLST) distribution were derived and the maximum likelihood method parameter estimates assessed through a simulation study. A well-known dataset was analysed, illustrating the usefulness of the new distribution in modeling skewed and heavy-tailed data. The hazard rate shape was found to be increasing, decreasing and inverted bathtub shaped which was also reflected in the application result.