Truncated Family of Distributions with Applications to Time and Cost to Start a Business

Ayman Alzaatreh; Mohammad A. Aljarrah; Michael Smithson; Saman Hanif Shahbaz; Muhammad Qaiser Shahbaz; Felix Famoye; Carl Lee

doi:10.1007/s11009-020-09801-1

Truncated Family of Distributions with Applications to Time and Cost to Start a Business

Ayman Alzaatreh, Mohammad A. Aljarrah, Michael Smithson, Saman Hanif Shahbaz, Muhammad Qaiser Shahbaz, Felix Famoye, Carl Lee^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

14 Citations (Scopus)

Abstract

The time and cost to start a business are highly related to the degree of transparency of business information, which strongly impacts the loss due to illicit financial flows. In order to study the distributional characteristics of time and cost to start a business, we introduce right-truncated and left-truncated T-X families of distributions. These families are used to construct new generalized families of continuous distributions. Relationships between the families are investigated. Real data sets including time and cost to start a business are analyzed and the results show that the truncated families perform very well for fitting highly skewed data.

Original language	English
Pages (from-to)	5-27
Number of pages	23
Journal	Methodology and Computing in Applied Probability
Volume	23
Issue number	1
DOIs	https://doi.org/10.1007/s11009-020-09801-1
Publication status	Published - Mar 2021

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abstract = "The time and cost to start a business are highly related to the degree of transparency of business information, which strongly impacts the loss due to illicit financial flows. In order to study the distributional characteristics of time and cost to start a business, we introduce right-truncated and left-truncated T-X families of distributions. These families are used to construct new generalized families of continuous distributions. Relationships between the families are investigated. Real data sets including time and cost to start a business are analyzed and the results show that the truncated families perform very well for fitting highly skewed data.",

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AU - Alzaatreh, Ayman

AU - Aljarrah, Mohammad A.

AU - Smithson, Michael

AU - Shahbaz, Saman Hanif

AU - Shahbaz, Muhammad Qaiser

AU - Famoye, Felix

AU - Lee, Carl

PY - 2021/3

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AB - The time and cost to start a business are highly related to the degree of transparency of business information, which strongly impacts the loss due to illicit financial flows. In order to study the distributional characteristics of time and cost to start a business, we introduce right-truncated and left-truncated T-X families of distributions. These families are used to construct new generalized families of continuous distributions. Relationships between the families are investigated. Real data sets including time and cost to start a business are analyzed and the results show that the truncated families perform very well for fitting highly skewed data.

KW - Distribution shape

KW - Generalized distributions

KW - Quantile function

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JO - Methodology and Computing in Applied Probability

JF - Methodology and Computing in Applied Probability

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Truncated Family of Distributions with Applications to Time and Cost to Start a Business

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