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Research Article Open access CC BY 4.0

Application of Alpha Power Cubic Transmuted Dagum Distribution to Real-Life Data

Shu’aibu Bala, Bassa Shiwaye Yakura, Umar Alhaji Magaji, Samuel Oluwole Iseyemi

Asian Journal of Advanced Research and Reports · pp. 291–306 · Published 1 Nov 2023

10.9734/ajarr/2023/v17i11576

Abstract

In this article, a new model is proposed called alpha power cubic transmuted distribution. Some properties of the new distribution such as survival and hazard functions and other useful measures were obtained. The model parameters were estimated using the method of maximum likelihood. The usefulness of the proposed distribution has been shown using three real datasets. This indicates that the proposed compound distribution would be useful in the area of distribution theory in Statistics, and in modeling real life data sets relating to biology, demography, geology, economics, environmental sciences, engineering, finance, medicine, hydrology, insurance and many other fields.

Alpha power transformation Dagum distribution cubic transmuted Dagum distribution Statistical properties parameter estimation applications

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