In this study, we consider the Pareto distribution where the value of k parameter is uncertain.
Some statistical quantities such as expected value, variance, skewness and kurtosis of the pareto distribution
are derived by using fuzzy numbers. In addition to the these numerical characteristics, a numerical study
is provided. Furthermore, large claims data from Society of Actuaries (SOA) Group Medical insurance is examined and k parameter of Pareto distribution is obtained by using the maximum likelihood estimation
method and the numerical characteristics of this distribution are calculated under uncertainty
Primary Language | English |
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Subjects | Mathematical Sciences |
Journal Section | Articles |
Authors | |
Publication Date | July 1, 2013 |
Acceptance Date | March 3, 2013 |
Published in Issue | Year 2013 Volume: 6 Issue: 2 |