Axioms (Jun 2024)

Statistical Advancement of a Flexible Unitary Distribution and Its Applications

  • Hugo S. Salinas,
  • Hassan S. Bakouch,
  • Fatimah E. Almuhayfith,
  • Wilson E. Caimanque,
  • Leonardo Barrios-Blanco,
  • Olayan Albalawi

DOI
https://doi.org/10.3390/axioms13060397
Journal volume & issue
Vol. 13, no. 6
p. 397

Abstract

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A flexible distribution has been introduced to handle random variables in the unit interval. This distribution is based on an exponential transformation of the truncated positive normal distribution with two parameters and can effectively fit data with varying degrees of skewness and kurtosis. Therefore, it presents an alternative for modeling this type of data. Several mathematical and statistical properties of this distribution have been derived, such as moments, hazard function, the Bonferroni curve, and entropy. Moreover, we investigate the characterizations of the proposed distribution based on its hazard function. Parameter estimation has been performed using both the maximum likelihood method and method of the moments. Because of this, we were able to determine the best critical region and the information matrix, facilitating the calculation of asymptotic confidence intervals. A simulation study is presented to analyze the behavior of the obtained estimators for different sample sizes. To demonstrate the suitability of the proposed distribution, applications and goodness-of-fit tests have been performed on two practical data sets.

Keywords