<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The study focuses on the development of a new probability distribution with applications to extreme values. The distribution is proposed by incorporating an additional parameter into the inverse Pareto distribution using the α-Power Transformation. Various properties of the new distribution are derived. The paper also explores the estimation of the parameters by the Maximum Likelihood Estimation (MLE) technique. Simulations are performed to evaluate the performance of the MLEs. In addition, two real data sets with extreme values are used to evaluate the efficacy of the proposed model. It is concluded that the proposed model performs well in the case of extreme values compared to the existing distributions.</p>
</abstract>

The study focuses on the development of a new probability distribution with applications to extreme values. The distribution is proposed by incorporating an additional parameter into the inverse Pareto distribution using the α-Power Transformation. Various properties of the new distribution are derived. The paper also explores the estimation of the parameters by the Maximum Likelihood Estimation (MLE) technique. Simulations are performed to evaluate the performance of the MLEs. In addition, two real data sets with extreme values are used to evaluate the efficacy of the proposed model. It is concluded that the proposed model performs well in the case of extreme values compared to the existing distributions.

Modeling Extreme Values with Alpha Power Inverse Pareto Distribution

Measurement Science Review

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"Modeling Extreme Values with Alpha Power Inverse Pareto Distribution"}

The study focuses on the development of a new probability distribution with applications to extreme values. The distribution is proposed by incorporating an...

Modeling Extreme Values with Alpha Power Inverse Pareto Distribution

Online veröffentlicht: 03. Mai 2023

Seitenbereich: 55 - 62

Eingereicht: 03. Aug. 2022

Akzeptiert: 20. März 2023

DOI: https://doi.org/10.2478/msr-2023-0007

Schlüsselwörter
α-Power transformation, Entropy, Extreme Values, Inverse Pareto distribution, Stochastic Ordering, Stress-Strength Parameter

© 2023 Shumaila Ihtisham et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Modeling Extreme Values with Alpha Power Inverse Pareto Distribution

Online veröffentlicht: 03. Mai 2023

Seitenbereich: 55 - 62

Eingereicht: 03. Aug. 2022

Akzeptiert: 20. März 2023

DOI: https://doi.org/10.2478/msr-2023-0007

Schlüsselwörterα-Power transformation, Entropy, Extreme Values, Inverse Pareto distribution, Stochastic Ordering, Stress-Strength Parameter

© 2023 Shumaila Ihtisham et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Schlüsselwörter
α-Power transformation, Entropy, Extreme Values, Inverse Pareto distribution, Stochastic Ordering, Stress-Strength Parameter