JSM 2013 Home
Online Program Home
My Program

Abstract Details

Activity Number: 181
Type: Contributed
Date/Time: Monday, August 5, 2013 : 10:30 AM to 12:20 PM
Sponsor: Business and Economic Statistics Section
Abstract - #309894
Title: Estimation in the Weighted Generalized Beta Distributions of the Second Kind with Applications to U.S. Family Income Data
Author(s): Broderick Oluyede*+
Companies: Georgia Southern University
Keywords: Income Distribution ; Beta-F Family ; MLE ; WGB2 ; Entropy ; Empirical Results

This paper applies the class of weighted generalized beta distribution of the second kind (WGB2) as descriptive models for size distribution of income. The properties of WGB2 including mean, variance, coefficient of variation(CV), coefficient of skewness(CS), coefficient of kurtosis(CK) are presented. Other properties including top-sensitive index, bottom-sensitive index, mean logarithmic deviation(MLD) index and Theil index obtained from generalized entropy(GE) are obtained and applied in this paper. WGB2 proved to be in the generalized beta-F family of distributions, and maximum likelihood estimation(MLE) is used to obtain the parameter estimates. WGB2 is fi tted to U.S. family income (2001-2009) data with diff erent values of the parameters. The empirical results show the length-biased distribution provides the best relative fi t.

Authors who are presenting talks have a * after their name.

Back to the full JSM 2013 program

2013 JSM Online Program Home

For information, contact jsm@amstat.org or phone (888) 231-3473.

If you have questions about the Continuing Education program, please contact the Education Department.

The views expressed here are those of the individual authors and not necessarily those of the JSM sponsors, their officers, or their staff.

ASA Meetings Department  •  732 North Washington Street, Alexandria, VA 22314  •  (703) 684-1221  •  meetings@amstat.org
Copyright © American Statistical Association.