Statistics and Probability Commons^™

A Generalized Family Of Exponentiated Composite Distributions With Applications To Insurance And Survival Data, Bowen Liu

UNLV Theses, Dissertations, Professional Papers, and Capstones

The concept of composite distributions was proposed in the early 2000s as a good parametric solution to model the data with heavy tails. Since the concept was proposed, it has been widely used in different areas, such as modeling insurance claim size data, predicting the risk measures in insurance data analysis, fitting survival time data, and modeling precipitation data. While a lot of the composite distributions demonstrated great performances in real applications, many commonly used composite distributions such as the inverse gamma-Pareto (IGP) or exponential-Pareto (EP), did not demonstrate great performances when fitting to several particular data sets. In order …