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Article
Estimation of Parameters in Weighted Generalized Beta Distribution of the Second Kind
Journal of Statistical and Econometric Methods
  • Yuan Ye, University of Houston
  • Broderick O. Oluyede, Georgia Southern University
  • Marvis Pararai, Indiana University of Pennsylvania
Document Type
Article
Publication Date
1-1-2012
Disciplines
Abstract

This paper applies the class of weighted generalized beta distribution of the second kind (WGB2) as descriptive models for size distribution of income. The properties of WGB2 including mean, variance, coefficient of variation (CV), coefficient of skewness (CS), coefficient of kurtosis (CK) are presented. Other properties including top-sensitive index, bottom-sensitive index, mean logarithmic deviation (MLD) index and Theil index obtained from generalized entropy (GE) are applied in this paper. WGB2 proved to be in the generalized beta-F family of distributions, and maximum likelihood estimation (MLE) is used to obtain the parameter estimates. WGB2 is fitted to U.S. family income (2001-2009) data with different values of the parameters. The empirical results show the length-biased distribution provides the best relative fit.

Comments

The Scienpress Ltd as Publisher applies the Creative Commons Attribution License (CCAL) to all works we publish. Article obtained from Journal of Statistical and Econometric Methods.

Citation Information
Yuan Ye, Broderick O. Oluyede and Marvis Pararai. "Estimation of Parameters in Weighted Generalized Beta Distribution of the Second Kind" Journal of Statistical and Econometric Methods Vol. 1 Iss. 1 (2012) p. 1 - 12
Available at: http://works.bepress.com/broderick_oluyede/34/