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2015•The Egyptian Statistical Journal/The Egyptian Statistical Journal Open access

A New Generalization of The Pareto Distribution: With Application

Salah M. Mohamed, Mahmoud M.Mansour

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Abstract

This paper introduces a new generalization of the Pareto distribution, based on a new family of lifetime distribution by Mansour et al (2015). We refer to the new distribution as Kumaraswamy new transmuted Pareto (Kw-NTP) distribution. The new model contains some of lifetime distributions as special cases such as the transmuted Pareto, Kumaraswamy-transmuted exponentiated Pareto, exponentiated Pareto, and Pareto distributions, among others. The properties of the new model are discussed and the maximum likelihood estimation is used to evaluate the parameters. Explicit expressions are derived for the moments and examine the order statistics. An application to real data set is finally presented for illustration.

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What this paper is about

This paper introduces a new generalization of the Pareto distribution, based on a new family of lifetime distribution by Mansour et al (2015). We refer to the new distribution as Kumaraswamy new transmuted Pareto (Kw-NTP) distribution. The new model contains some of lifetime distributions as special cases such as the transmuted Pareto, Kumaraswamy-transmuted exponentiated Pareto, exponentiated Pareto, and Pareto distributions, among others. The properties of the new model are discussed and the maximum likelihood estimation is used to evaluate the parameters. Explicit expressions are derived for the moments and examine the order statistics. An application to real data set is finally presented for illustration.

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Available abstract

This paper introduces a new generalization of the Pareto distribution, based on a new family of lifetime distribution by Mansour et al (2015). We refer to the new distribution as Kumaraswamy new transmuted Pareto (Kw-NTP) distribution. The new model contains some of lifetime distributions as special cases such as the transmuted Pareto, Kumaraswamy-transmuted exponentiated Pareto, exponentiated Pareto, and Pareto distributions, among others. The properties of the new model are discussed and the maximum likelihood estimation is used to evaluate the parameters. Explicit expressions are derived for the moments and examine the order statistics. An application to real data set is finally presented for illustration.

Key concepts: Lomax distribution, Pareto distribution, Pareto interpolation, Pareto principle, Generalization, Mathematics, Generalized Pareto distribution, Order statistic

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