Document Type
Article
Publication Date
2012
Publication Title
Journal of Statistical and Econometric Methods
ISSN
2241-0376
Abstract
This paper applies the class of weighted generalized beta distribution of the second kind (WGB2) as descriptive models for size distribution of income. The properties of WGB2 including mean, variance, coefficient of variation (CV), coefficient of skewness (CS), coefficient of kurtosis (CK) are presented. Other properties including top-sensitive index, bottom-sensitive index, mean logarithmic deviation (MLD) index and Theil index obtained from generalized entropy (GE) are applied in this paper. WGB2 proved to be in the generalized beta-F family of distributions, and maximum likelihood estimation (MLE) is used to obtain the parameter estimates. WGB2 is fitted to U.S. family income (2001-2009) data with different values of the parameters. The empirical results show the length-biased distribution provides the best relative fit.
Recommended Citation
Ye, Yuan, Broderick O. Oluyede, Marvis Pararai.
2012.
"Estimation of Parameters in Weighted Generalized Beta Distribution of the Second Kind."
Journal of Statistical and Econometric Methods, 1 (1): 1-12.
source: http://www.scienpress.com/journal_focus.asp?main_id=68&Sub_id=IV&Issue=198
https://digitalcommons.georgiasouthern.edu/math-sci-facpubs/142
Comments
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Article obtained from Journal of Statistical and Econometric Methods.