The Weibull Burr XII distribution in lifetime and income analysis
Abstract We study a five-parameter model called the Weibull Burr XII (WBXII) distribution, which extends several models, including new ones. This model is quite flexible in terms of the hazard function, which exhibits increasing, decreasing, upside-down bathtub, and bathtub shapes. Its density funct...
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| Format: | Article |
| Language: | English |
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Academia Brasileira de Ciências
2021-06-01
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| Series: | Anais da Academia Brasileira de Ciências |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0001-37652021000500301&tlng=en |
| _version_ | 1818732134555189248 |
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| author | RENATA ROJAS GUERRA FERNANDO A. PEÑA-RAMÍREZ GAUSS M. CORDEIRO |
| author_facet | RENATA ROJAS GUERRA FERNANDO A. PEÑA-RAMÍREZ GAUSS M. CORDEIRO |
| author_sort | RENATA ROJAS GUERRA |
| collection | DOAJ |
| description | Abstract We study a five-parameter model called the Weibull Burr XII (WBXII) distribution, which extends several models, including new ones. This model is quite flexible in terms of the hazard function, which exhibits increasing, decreasing, upside-down bathtub, and bathtub shapes. Its density function allows different forms such as left-skewed, right-skewed, reversed-J, and bimodal. We aim to provide some general mathematical quantities for the proposed distribution, which can be useful to real data analysis. We develop a shiny application to provide interactive illustrations of the WBXII density and hazard functions. We estimate the model parameters using maximum likelihood and derive a profile log-likelihood for all members of the Weibull-G family. The survival analysis application reveals that the WBXII model is suitable to accommodate left-skewed tails, which are very common when the variable of interest is the time to failure of a product. The income application is related to player salaries within a professional sports league and it is peculiar because the mean of the player’s salaries is much higher than for most professions. Both applications illustrate that the new distribution provides much better fits than other models with the same and less number of parameters. |
| first_indexed | 2024-12-17T23:28:45Z |
| format | Article |
| id | doaj.art-5dfa27e0bc474510bdfb68dc0c64abc5 |
| institution | Directory Open Access Journal |
| issn | 1678-2690 |
| language | English |
| last_indexed | 2024-12-17T23:28:45Z |
| publishDate | 2021-06-01 |
| publisher | Academia Brasileira de Ciências |
| record_format | Article |
| series | Anais da Academia Brasileira de Ciências |
| spelling | doaj.art-5dfa27e0bc474510bdfb68dc0c64abc52022-12-21T21:28:42ZengAcademia Brasileira de CiênciasAnais da Academia Brasileira de Ciências1678-26902021-06-0193310.1590/0001-3765202120190961The Weibull Burr XII distribution in lifetime and income analysisRENATA ROJAS GUERRAhttps://orcid.org/0000-0002-6476-8276FERNANDO A. PEÑA-RAMÍREZhttps://orcid.org/0000-0001-9605-1766GAUSS M. CORDEIROhttps://orcid.org/0000-0002-3052-6551Abstract We study a five-parameter model called the Weibull Burr XII (WBXII) distribution, which extends several models, including new ones. This model is quite flexible in terms of the hazard function, which exhibits increasing, decreasing, upside-down bathtub, and bathtub shapes. Its density function allows different forms such as left-skewed, right-skewed, reversed-J, and bimodal. We aim to provide some general mathematical quantities for the proposed distribution, which can be useful to real data analysis. We develop a shiny application to provide interactive illustrations of the WBXII density and hazard functions. We estimate the model parameters using maximum likelihood and derive a profile log-likelihood for all members of the Weibull-G family. The survival analysis application reveals that the WBXII model is suitable to accommodate left-skewed tails, which are very common when the variable of interest is the time to failure of a product. The income application is related to player salaries within a professional sports league and it is peculiar because the mean of the player’s salaries is much higher than for most professions. Both applications illustrate that the new distribution provides much better fits than other models with the same and less number of parameters.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0001-37652021000500301&tlng=enBimodal distributionBurr XII distributionprofile log-likelihoodWeibull-G family |
| spellingShingle | RENATA ROJAS GUERRA FERNANDO A. PEÑA-RAMÍREZ GAUSS M. CORDEIRO The Weibull Burr XII distribution in lifetime and income analysis Anais da Academia Brasileira de Ciências Bimodal distribution Burr XII distribution profile log-likelihood Weibull-G family |
| title | The Weibull Burr XII distribution in lifetime and income analysis |
| title_full | The Weibull Burr XII distribution in lifetime and income analysis |
| title_fullStr | The Weibull Burr XII distribution in lifetime and income analysis |
| title_full_unstemmed | The Weibull Burr XII distribution in lifetime and income analysis |
| title_short | The Weibull Burr XII distribution in lifetime and income analysis |
| title_sort | weibull burr xii distribution in lifetime and income analysis |
| topic | Bimodal distribution Burr XII distribution profile log-likelihood Weibull-G family |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0001-37652021000500301&tlng=en |
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