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Journal of Statistics and Management Systems

(Since 1998)
Open Access ·Peer-reviewed·ISSN (Online): 2169-0014·ISSN (Print): 0972-0510
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The Journal of Statistics and Management Systems (JSMS) is a world leading journal publishing high quality, rigorously peer-reviewed original research on theoretical and applied statistics and management systems since 1998. The scope is intentionally broad, but papers must make a novel contribution to the field to be considered for publication. Topics include, but are not limited to, the following: • Statistics • Applied Statistics • Industrial Statistics • Statistical Inference • Interdisciplinary role of Statistics • Actuarial Sciences • Decision Sciences • Managerial Aspects • Management Sciences • Management Information Systems

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Journal of Statistics and Management Systems
Open Access Research Article

Extended two-piece double generalized gamma distribution and its applications

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pp. 941–957Vol. 28Issue 5July 2025DOI: 10.47974/JSMS-1417XML
Received:
10 Jul 2024
Published Online:
24 May 2025
Article type:
Research Article
Language:
EN
Article no.:
JSMS-1417
Pages:
941–957

Abstract

A novel bimodal modification of the gamma distribution is developed in this article by combining the double ganeralized gamma distribution with the extended two-piece transformation, named the extended two-piece double generalized gamma distribution (ETDGG). The epsilon-skew parameterization method is used to introduce asymmetric to this distribution. The statistical properties of the ETDGG distribution are derived, including cumulative distribution function (CDF), probability density function (PDF), moments, quantiles, and moment generation functions. Two parameter estimation methods (moment and MLE) are explored.In order to assess the performance and reliability of the estimation method, Monte Carlo simulation is carried out. Finally, to demonstrate the adaptability and effectiveness of the proposed distribution, two real world datasets are used. The findings present that the proposed ETDGG distribution provides a better fit than other considered distributions. 

Keywords

Extended two-piece distributionAsymmetricDouble generalized gamma distributionMaximum likelihood estimationFinancial data analysis

Subject Classifications

60E0562E1562F1091G15

References

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