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ISRN Probability and StatisticsVolume 2013 2013, Article ID 265373, 10 pages

Research Article

Department of Mathematics, Brock University, St. Catharines, ON, Canada L2S 3A1

Department of Statistics, University of British Columbia, Vancouver, BC, Canada V6T 1Z4

Department of Mathematics and Statistics, University of Winsdor, Windsor, ON, Canada N9B 3P4

Received 20 June 2013; Accepted 25 July 2013

Academic Editors: E. Omey and S. Sagitov

Copyright © 2013 Mei Ling Huang et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.


The Pareto distribution is a heavy-tailed distribution with many applications in the realworld. The tail of the distribution is important, but the threshold of the distribution is difficultto determine in some situations. In this paper we consider two real-world examples with heavy-tailed observations, which leads us to propose a mixture truncated Pareto distribution MTPDand study its properties. We construct a cluster truncated Pareto distribution CTPD by usinga two-point slope technique to estimate the MTPD from a random sample. We apply the MTPDand CTPD to the two examples and compare the proposed method with existing estimationmethods. The results of log-log plots and goodness-of-fit tests show that the MTPD and thecluster estimation method produce very good fitting distributions with real-world data.

Autor: Mei Ling Huang, Vincenzo Coia, and Percy Brill

Fuente: https://www.hindawi.com/


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