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A modified truncated distribution for modeling the heavy tail, engineering and environmental sciences data

Author

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  • Ahtasham Gul
  • Muhammad Mohsin
  • Muhammad Adil
  • Mansoor Ali

Abstract

Truncated models are imperative to efficiently analyze the finite data that we observe in almost all the real life situations. In this paper, a new truncated distribution having four parameters named Weibull-Truncated Exponential Distribution (W-TEXPD) is developed. The proposed model can be used as an alternative to the Exponential, standard Weibull and shifted Gamma-Weibull and three parameter Weibull distributions. The statistical characteristics including cumulative distribution function, hazard function, cumulative hazard function, central moments, skewness, kurtosis, percentile and entropy of the proposed model are derived. The maximum likelihood estimation method is employed to evaluate the unknown parameters of the W-TEXPD. A simulation study is also carried out to assess the performance of the model parameters. The proposed probability distribution is fitted on five data sets from different fields to demonstrate its vast application. A comparison of the proposed model with some extant models is given to justify the performance of the W-TEXPD.

Suggested Citation

  • Ahtasham Gul & Muhammad Mohsin & Muhammad Adil & Mansoor Ali, 2021. "A modified truncated distribution for modeling the heavy tail, engineering and environmental sciences data," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-24, April.
    • Handle: RePEc:plo:pone00:0249001
    DOI: 10.1371/journal.pone.0249001
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    References listed on IDEAS

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    2. Saxena, Neha & Sarkar, Mitali & Sarkar, Biswajit, 2024. "Which retail strategy for shelf life products can satisfy consumers under game policy?," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).

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