Odd Exponential-Logarithmic Family of Distributions: Features and Modeling
This paper introduces a general family of continuous distributions, based on the exponential-logarithmic distribution and the odd transformation. It is called the “odd exponential logarithmic family”. We intend to create novel distributions with desired qualities for practical applications, using th...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2022-08-01
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| Series: | Mathematical and Computational Applications |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2297-8747/27/4/68 |
| Summary: | This paper introduces a general family of continuous distributions, based on the exponential-logarithmic distribution and the odd transformation. It is called the “odd exponential logarithmic family”. We intend to create novel distributions with desired qualities for practical applications, using the unique properties of the exponential-logarithmic distribution as an initial inspiration. Thus, we present some special members of this family that stand out for the versatile shape properties of their corresponding functions. Then, a comprehensive mathematical treatment of the family is provided, including some asymptotic properties, the determination of the quantile function, a useful sum expression of the probability density function, tractable series expressions for the moments, moment generating function, Rényi entropy and Shannon entropy, as well as results on order statistics and stochastic ordering. We estimate the model parameters quite efficiently by the method of maximum likelihood, with discussions on the observed information matrix and a complete simulation study. As a major interest, the odd exponential logarithmic models reveal how to successfully accommodate various kinds of data. This aspect is demonstrated by using three practical data sets, showing that an odd exponential logarithmic model outperforms two strong competitors in terms of data fitting. |
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| ISSN: | 1300-686X 2297-8747 |