Alpha-Power Pareto distribution: Its properties and applications | Pareto distribution

In Statistical theory, inclusion of an additional parameter to standard distributions is a usual practice. In this study, a new distribution referred to ...BrowseSubjectAreas?ClickthroughthePLOStaxonomytofindarticlesinyourfield.FormoreinformationaboutPLOSSubjectAreas,clickhere.ArticleAuthorsMetricsCommentsMediaCoverageReaderComments(0)FiguresFiguresAbstractInStatisticaltheory,inclusionofanadditionalparametertostandarddistributionsisausualpractice.Inthisstudy,anewdistributionreferredtoasAlpha-PowerParetodistributionisintroducedbyincludinganextraparameter.Severalpropertiesoftheproposeddistribution,includingmomentgeneratingfunction,mode,quantiles,entropies,meanresiduallifefunction,stochasticordersandorderstatisticsareobtained.Parametersoftheproposeddistributionhavebeenestimatedusingmaximumlikelihoodestimationtechnique.Tworealdatasetshavebeenconsideredtoexaminetheusefulnessoftheproposeddistribution.IthasbeenobservedthattheproposeddistributionoutperformsdifferentvariantsofParetodistributiononthebasisofmodelselectioncriteria.Citation:IhtishamS,KhalilA,ManzoorS,KhanSA,AliA(2019)Alpha-PowerParetodistribution:Itspropertiesandapplications.PLoSONE14(6):e0218027.https://doi.org/10.1371/journal.pone.0218027Editor:HaroldoV.Ribeiro,UniversidadeEstadualdeMaringa,BRAZILReceived:March1,2019;Accepted:May23,2019;Published:June12,2019Copyright:©2019Ihtishametal.ThisisanopenaccessarticledistributedunderthetermsoftheCreativeCommonsAttributionLicense,whichpermitsunrestricteduse,distribution,andreproductioninanymedium,providedtheoriginalauthorandsourcearecredited.DataAvailability:AllrelevantdataarewithinthepaperanditsSupportingInformationfiles.Funding:Theauthorsreceivednospecificfundingforthiswork.Competinginterests:Theauthorshavedeclaredthatnocompetinginterestsexist.IntroductionForthelastfewdecades,improvementoverstandarddistributionshasbecomeacommonpracticeinstatisticaltheory.Usually,anadditionalparameterisaddedbyusinggeneratorsorexistingdistributionsarecombinedtoobtainnewdistributions[1]


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