Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

A More Flexible Extension of the Fréchet Distribution Based on the Incomplete Gamma Function and Applications

Version 1 : Received: 28 July 2023 / Approved: 31 July 2023 / Online: 1 August 2023 (04:24:03 CEST)

A peer-reviewed article of this Preprint also exists.

Castillo, J.S.; Rojas, M.A.; Reyes, J. A More Flexible Extension of the Fréchet Distribution Based on the Incomplete Gamma Function and Applications. Symmetry 2023, 15, 1608. Castillo, J.S.; Rojas, M.A.; Reyes, J. A More Flexible Extension of the Fréchet Distribution Based on the Incomplete Gamma Function and Applications. Symmetry 2023, 15, 1608.

Abstract

In this paper a more flexible extension of the Fréchet distribution is introduced. The new distribution is defined by means of the stochastic representation as the quotient of two independent random variables, a Fréchet distribution and the power of a random variable with uniform distribution in the interval (0,1). We will call this new extension the Slash Fréchet distribution and one of its main characteristics is that its tails are heavier than the Fréchet distribution. The general density of this distribution and some basic properties are determined. Its moments, skewness coefficients and kurtosis are calculated. In addition, the estimation of the model parameters is obtained by the method of moments and maximum likelihood. Finally, two applications with real data are performed by fitting the new model and comparing it with the Fréchet distribution.

Keywords

Fréchet distribution; Slash distribution; kurtosis coefficient; moment estimators; maximum likelihood estimator

Subject

Computer Science and Mathematics, Probability and Statistics

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