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Abstract Details

Activity Number: 30
Type: Contributed
Date/Time: Sunday, July 29, 2012 : 2:00 PM to 3:50 PM
Sponsor: Section on Statistical Computing
Abstract - #305505
Title: A Mixture Truncated Pareto Distribution
Author(s): Mei Ling Huang*+ and Vincenzo Coia and Percy Brill
Companies: Brock University and Brock University and University of Windsor
Address: Dept of Mathematics, St. Catharines, ON, L2S 3A1, Canada
Keywords: Heavy Tailed Distributions ; Goodness-of-fit tests ; Order Statistics ; Truncated Pareto Distribution ; Cluster

Heavy tailed distributions have many applications in the real world. The Pareto distribution is very popular. The tail distribution is important but the threshold of the distribution is difficult to determine. We propose a mixture truncated Pareto distribution (MTPD). This study leads us to construct a cluster Pareto distribution (CPD) estimation method. The paper studies a real world example which utilized the MTPD. The results of goodness of fit tests show that the MTPD and the cluster estimation method produce very good fitting distributions with real world data.

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