The Kumaraswamy Transmuted Pareto Distribution

• Activity Number: 629 - Advanced Topics in Statistics Education
• Type: Contributed
• Date/Time: Thursday, August 3, 2017 : 8:30 AM to 10:20 AM
• Sponsor: Section on Statistical Education
• Author(s): Sher Chhetri* and Alfred Akinsete and Gokarna Aryal and Hongwei Long
• Companies: Florida Atlantic University and Marshall University and Purdue University Northwest and Florida Atlantic University
• Keywords: Kumaraswamy distribution ; Pareto distribution ; Transmuted distribution ; Parameter estimation ; Order Statistics ; Reliability Analysis

Abstract

In this study, we will introduce the so-called Kumaraswamy transmuted Pareto (KwTP) distribution. This is a generalization of the transmuted Pareto distribution using the genesis of the Kumaraswamy distribution. Many distributions including Pareto, beta Pareto, transmuted Pareto and exponentiated Pareto, beta transmuted Pareto, Kumaraswamy Pareto are embedded in this newly developed KwTP distribution. Some mathematical properties along with parameter estimation issues of the subject distribution will be discussed. We will present an example to illustrate the application of the subject distribution to model the real world data and compare the goodness-of-fit with its submodels to claim that KwTP is superior to its submodels.