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- Title
Order Statistics and Actuarial Measures from Powered Inverse Rayleigh Distribution.
- Authors
Khan, M. I.
- Abstract
Nashaat [25] introduced the powered inverse Rayleigh (PIR) distribution. It provides a better fit other than (inverse Rayleigh, Rayleigh, and Weibull) distributions. The moments of order statistics and recurrence relations for the single and double moments have been established. The computation of the means and variances are enumerated. These computations can be truly interesting and applied in numerous domains of study. Moreover, cumulative entropy (C.E.) and actuarial measures (A.M.) are also calculated to address the uncertainty in portfolio optimization. The usages of C. E. and A.M. are widespread in many real-word applications specifically in physical sciences and insurance science.
- Subjects
ORDER statistics; INSURANCE statistics; RAYLEIGH model; PHYSICAL sciences; ENTROPY
- Publication
European Journal of Pure & Applied Mathematics, 2024, Vol 17, Issue 3, p2182
- ISSN
1307-5543
- Publication type
Article
- DOI
10.29020/nybg.ejpam.v17i3.5211