Volume 66 | Issue 11 | Year 2020 | Article Id. IJMTT-V66I11P505 | DOI : https://doi.org/10.14445/22315373/IJMTT-V66I11P505
In this work, a new higher-order beta probability distribution function is proposed from the existing beta probability distribution function. The new probability distribution function was derived using the work of [5]. The properties of the two distribution functions were given. A Monte Carlo experiment is performed for two scenarios using small and large sample sizes and it was observed that the proposed distribution has the least mean square error. It was equally observed that for the two scenarios, as the sample size increases, the error decreases which obey the finite sample theory. More importantly, based on the observations, the proposed distribution is efficient even if the data set departs from the standard beta distribution. A real life applications were used to stress further the flexibility of the proposed distribution.
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Benson Ade Afere, "On the k – Higher-Order Beta Distribution Function," International Journal of Mathematics Trends and Technology (IJMTT), vol. 66, no. 11, pp. 67-79, 2020. Crossref, https://doi.org/10.14445/22315373/IJMTT-V66I11P505