Application of Alpha Power Cubic Transmuted Dagum Distribution to Real-Life Data
Shu’aibu Bala
Department of Surveying and Geoinformatics, Nuhu Bamalli Polytechnic Zaria, Nigeria.
Bassa Shiwaye Yakura *
Department of General Studies Education, School of General Education, Federal College of Education, Yola, Adamawa State, Nigeria.
Umar Alhaji Magaji
Department of Mathematics, Jigawa State College of Education, Gumel, Jigawa State, Nigeria.
Samuel Oluwole Iseyemi
Federal School of Statistics, Manchok, Kaduna, Nigeria.
*Author to whom correspondence should be addressed.
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.
Keywords: Alpha power transformation, Dagum distribution, cubic transmuted Dagum distribution, Statistical properties, parameter estimation, applications