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Enhanced Real-Life Data Modeling with the Modified Burr III Odds Ratio–G Distribution
- Source :
- Axioms, Vol 13, Iss 6, p 401 (2024)
- Publication Year :
- 2024
- Publisher :
- MDPI AG, 2024.
-
Abstract
- In this study, we introduce the modified Burr III Odds Ratio–G distribution, a novel statistical model that integrates the odds ratio concept with the foundational Burr III distribution. The spotlight of our investigation is cast on a key subclass within this innovative framework, designated as the Burr III Scaled Inverse Odds Ratio–G (B-SIOR-G) distribution. By effectively integrating the odds ratio with the Burr III distribution, this model enhances both flexibility and predictive accuracy. We delve into a thorough exploration of this distribution family’s mathematical and statistical properties, spanning hazard rate functions, quantile functions, moments, and additional features. Through rigorous simulation, we affirm the robustness of the B-SIOR-G model. The flexibility and practicality of the B-SIOR-G model are demonstrated through its application to four datasets, highlighting its enhanced efficacy over several well-established distributions.
Details
- Language :
- English
- ISSN :
- 20751680
- Volume :
- 13
- Issue :
- 6
- Database :
- Directory of Open Access Journals
- Journal :
- Axioms
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.88153cf6c5464eefb6469e6e7848a3d5
- Document Type :
- article
- Full Text :
- https://doi.org/10.3390/axioms13060401