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Abstract:
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The Laplace distribution has been used in several areas including medical science, environmental science, communications, economics, engineering and finance, among others. In this talk, we propose and study so-called Kumaraswamy Laplace (K-Laplace) distribution. This is a generalization of the Laplace distribution and is based on the cumulative distribution function of the Kumaraswamy distribution. We provide a comprehensive description and the structural properties of the K-Laplace distribution. We also offer some applications of K-Laplace distribution to model the consumer price index(CPI) data. Comparisons with other competing distributions will also be presented.
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