Title

On the Mixtures of Weibull and Pareto (IV) Distribution: An Alternative to Pareto Distribution

Document Type

Article

Language

Eng

Publication Date

2018

Publisher

Taylor & Francis

Source Publication

Communications in Statistics - Theory and Methods

Source ISSN

0361-0926

Abstract

Finite mixture models have provided a reasonable tool to model various types of observed phenomena, specially those which are random in nature. In this article, a finite mixture of Weibull and Pareto (IV) distribution is considered and studied. Some structural properties of the resulting model are discussed including estimation of the model parameters via expectation maximization (EM) algorithm. A real-life data application exhibits the fact that in certain situations, this mixture model might be a better alternative than the rival popular models.

Comments

Communications in Statistics - Theory and Methods, Vol. 47, No. 9 (2018): 2073-2084. DOI.

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