Mathematics
2 years ago

New flexible probability model outperforms competitors in real-life applications.

AIP conference proceedings
Theory and application of the truncated exponential Marshall olkin gamma distribution: A model bounded on [0,1] support
Raghad Wamedh Faris, Mundher A. Khaleel

Paper Summary

A new probability model called the Truncated Exponential Marshall Olkin Gamma distribution was created to improve efficiency in statistics. This model is bounded between 0 and 1 and has three shape parameters for flexibility. It was found to perform better than several other existing models in a real-life application.

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