The Type I Half Logistic Skew-t Distribution: A Heavy-Tail Model with Inverted Bathtub Shaped Hazard Rate
O. D. Adubisi, A. Abdulkadir, H. Chiroma, U. F. Abbas
Asian Journal of Probability and Statistics · pp. 21–40 · Published 16 Sep 2021
10.9734/ajpas/2021/v14i430336Abstract
In this article a new generalization of the skew student-t distribution was introduced. The two-parameter model called the type I half-logistic skew-t (TIHLST) distribution can fit skewed, heavy-right tail, and long-tail datasets. Statistical properties of the type I half-logistic skew-t (TIHLST) distribution were derived and the maximum likelihood method parameter estimates assessed through a simulation study. A well-known dataset was analysed, illustrating the usefulness of the new distribution in modeling skewed and heavy-tailed data. The hazard rate shape was found to be increasing, decreasing and inverted bathtub shaped which was also reflected in the application result.
Cited by 3
Obinna D. Adubisi, Ahmed Abdulkadir, Chidi. E. Adubisi · Data Science in Finance and Economics · 2022
O.D. Adubisi, A. Abdulkadir, D.J. Adashu · Scientific African · 2023
O.D. Adubisi, A. Abdulkadir, U.A. Farouk · Scientific African · 2022
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