Abstract:The current research offers an enhanced three-parameter lifetime model that combines the unit Burr XII distribution with a power series distribution. The novel class of distribution is named the unit Burr XII power series (UBXIIPS). This compounding technique allows for the production of flexible distributions with strong physical meanings in domains such as biology and engineering. The UBXIIPS class includes the unit Burr XII Poisson (UBXIIP) distribution, the unit Burr XII binomial distribution, the unit Bur… Show more
“…The first dataset was used in Fayomi et al [29] and represented a random sample of Saudi Arabia's COVID-19 mortality rates over a 36-day period. The second dataset was used in Zayed et al [30] and showed the total milk production from the first birth of 107 cows of the SINDI race. To ensure the reliability and suitability of this study, we used different sample sizes.…”
Sample selection is one of the most important factors in estimating the unknown parameters of distributions, as it saves time, saves effort, and gives the best results. One of the challenges is deciding on a suitable distribution estimate technique and adequate sample selection to provide the best results in comparison with earlier research. The method of moments (MOM) was decided on to estimate the unknown parameters of the Gumbel distribution, but with four changes in the sample selection, which were simple random sample (SRS), ranked set sampling (RSS), maximum ranked set sampling (MRSS), and ordered maximum ranked set sampling (OMRSS) techniques, due to small sample sizes. The MOM is a traditional method for estimation, but it is difficult to use when dealing with RSS modification. RSS modification techniques were used to improve the efficiency of the estimators based on a small sample size compared with the usual SRS estimator. A Monte Carlo simulation study was carried out to compare the estimates based on different sampling. Finally, two datasets were used to demonstrate the adaptability of the Gumbel distribution based on the different sampling techniques.
“…The first dataset was used in Fayomi et al [29] and represented a random sample of Saudi Arabia's COVID-19 mortality rates over a 36-day period. The second dataset was used in Zayed et al [30] and showed the total milk production from the first birth of 107 cows of the SINDI race. To ensure the reliability and suitability of this study, we used different sample sizes.…”
Sample selection is one of the most important factors in estimating the unknown parameters of distributions, as it saves time, saves effort, and gives the best results. One of the challenges is deciding on a suitable distribution estimate technique and adequate sample selection to provide the best results in comparison with earlier research. The method of moments (MOM) was decided on to estimate the unknown parameters of the Gumbel distribution, but with four changes in the sample selection, which were simple random sample (SRS), ranked set sampling (RSS), maximum ranked set sampling (MRSS), and ordered maximum ranked set sampling (OMRSS) techniques, due to small sample sizes. The MOM is a traditional method for estimation, but it is difficult to use when dealing with RSS modification. RSS modification techniques were used to improve the efficiency of the estimators based on a small sample size compared with the usual SRS estimator. A Monte Carlo simulation study was carried out to compare the estimates based on different sampling. Finally, two datasets were used to demonstrate the adaptability of the Gumbel distribution based on the different sampling techniques.
<abstract><p>This study introduces the Inverse Burr-X Burr-XII (IBXBXII) distribution as a novel approach for handling asymmetric-bimodal claims and revenues. It explores the distribution's statistical properties and evaluates its performance in three contexts. The analysis includes assessing entropy, highlighting the distribution's significance in various fields, and comparing it to rival distributions using practical examples. The IBXBXII model is then applied to analyze risk indicators in actuarial data, focusing on bimodal insurance claims and income. Simulation analysis shows its preference for right-skewed data, making it suitable for mathematical modeling and actuarial risk assessments. The study emphasizes the IBXBXII model's versatility and effectiveness, suggesting it as a flexible framework for actuarial data analysis, particularly in cases of large samples and right-skewed data.</p></abstract>
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