A New Compound Probability Model Applicable to Count Data

Year: 2021       Vol.: 70       No.: 2      

Authors: Showkat Ahmad Dar, Anwar Hassan, Peer Bilal Ahmad and Bilal Ahmad Para

Abstract:

In this paper, we obtained a new model for count data by compounding of Poisson distribution with two parameter Pranav distribution. Important mathematical and statistical properties of the distribution have been derived and discussed. Then, parameter estimation is discussed using maximum likelihood method of estimation. Finally, real data set is analyzed to investigate the suitability of the proposed distribution in modeling count data.

Keywords: Poisson distribution, two parameter Pranav distribution, compound distribution, count data, simulation study, maximum likelihood estimation

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