Transmuted Dagum distribution: A more flexible and broad shaped hazard function model

Year 2016, Volume: 45 Issue: 1, 227 - 244, 01.02.2016

Mirza Naveed Shahzad Zahid Asghar

Abstract

In this article, we introduce an extended Dagum distribution, named as
transmuted Dagum distribution which can be used for income distribution, actuarial, survival and reliability analysis. The main motivation
for generalizing the standard distribution is to provide more flexible
distribution to model a variety of data. The extended distribution
has been expressed using quadratic rank transmutation map and its
tractable properties like moments, moment generating, quantile, reliability and hazard functions are derived. The transmuted Dagum model
provides the broader range of hazard behavior than the Dagum model.
The densities of its order statistics, generalized TL-moments with its
special cases are also studied. The parameters of the new model are estimated by maximum likelihood using Newton-Raphson approach and
the information matrix and confidence intervals are also obtained. To
illustrate utility and potentiality of the proposed model, it has been
applied to rainfall data for the city of Islamabad, Pakistan. 

Keywords

Transmuted Dagum distribution, Moments, Order statistics, TLmoments, Newton Raphson, Parameter estimation

References

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