A Gamma Generated New Pareto-type Distribution: A Comprehensive Mathematical Framework With Inferential Issues, Simulations and Implementation
摘要
In this study, we propose a gamma-generated new Pareto-type distribution, derived as a member of the gamma-X family, which serves as a competitive model to the Pareto, the beta-Pareto, the new Pareto-type, and the cubic transmuted Pareto distributions. Statistical and mathematical properties, including the hazard rate function, limiting behavior, mode characteristics, and relationships with other distributions, are explored. Expressions for the quantile function, moments, mean deviations, and scaling properties are also presented. Two likelihood-based methods are employed for parameter estimation, and simulation studies are conducted to demonstrate the consistency of the estimators. Real data applications based on four datasets are presented, with comparisons made against competing distributions. Finally, bootstrap-based confidence intervals are provided, along with 2-dimensional and 3-dimensional joint confidence region plots.