Modeling extreme value theories is really gaining interest in the world with scientist working to improve the flexibility of the distributions by adding parameter(s). Extreme value distributions are always described to include families of Gumbel, Weibull and Frechet distributions. Of the three distributions, Gumbel distribution is the most commonly used in the extreme value theory analysis. Existing literature has shown that the addition of parameter to a distribution makes it robust and/or more flexible hence the study intends to improve the existing two parameters Gumbel distribution using the Marshall and Olkin proposed method for introducing a new estimator/parameter to an existing distribution. The developed distribution will be important to the applications in some life time studies like high temperature, earthquakes, network designs, horse racing, queues in supermarket, insurance, winds, risk management, ozone concentration, flood, engineering and financial concepts. The parameters for the introduced distribution was estimated using Maximum Likelihood Estimation method. The introduced three parameters Gumbel distribution is a probability distribution function which can be used in modelling statistical data. The maximum likelihood estimates for the three parameters namely shape, location and dispersion are efficient, sufficient and consistent and this makes the function more flexible and better for application. The three parameters Gumbel distribution can be used in modeling and analysis of normal data, skewed data and extreme data since it will provide efficient, sufficient and consistent estimates.
Published in | International Journal of Statistical Distributions and Applications (Volume 10, Issue 2) |
DOI | 10.11648/j.ijsd.20241002.12 |
Page(s) | 25-37 |
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This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
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Copyright © The Author(s), 2024. Published by Science Publishing Group |
Gumbel Distribution, Maximum Likelihood Estimation, Marshall Olkins Method, Parameters, Three Parameters Gumbel Distribution
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APA Style
Okumu, O. K., Ouno, O. J., Karanjah, A. N., Muthiga, S. N. (2024). Three-parameters Gumbel Distribution: Formulation and Parameter Estimation. International Journal of Statistical Distributions and Applications, 10(2), 25-37. https://doi.org/10.11648/j.ijsd.20241002.12
ACS Style
Okumu, O. K.; Ouno, O. J.; Karanjah, A. N.; Muthiga, S. N. Three-parameters Gumbel Distribution: Formulation and Parameter Estimation. Int. J. Stat. Distrib. Appl. 2024, 10(2), 25-37. doi: 10.11648/j.ijsd.20241002.12
AMA Style
Okumu OK, Ouno OJ, Karanjah AN, Muthiga SN. Three-parameters Gumbel Distribution: Formulation and Parameter Estimation. Int J Stat Distrib Appl. 2024;10(2):25-37. doi: 10.11648/j.ijsd.20241002.12
@article{10.11648/j.ijsd.20241002.12, author = {Otieno Kevin Okumu and Omondi Joseph Ouno and Anthony Nyutu Karanjah and Samuel Nganga Muthiga}, title = {Three-parameters Gumbel Distribution: Formulation and Parameter Estimation}, journal = {International Journal of Statistical Distributions and Applications}, volume = {10}, number = {2}, pages = {25-37}, doi = {10.11648/j.ijsd.20241002.12}, url = {https://doi.org/10.11648/j.ijsd.20241002.12}, eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijsd.20241002.12}, abstract = {Modeling extreme value theories is really gaining interest in the world with scientist working to improve the flexibility of the distributions by adding parameter(s). Extreme value distributions are always described to include families of Gumbel, Weibull and Frechet distributions. Of the three distributions, Gumbel distribution is the most commonly used in the extreme value theory analysis. Existing literature has shown that the addition of parameter to a distribution makes it robust and/or more flexible hence the study intends to improve the existing two parameters Gumbel distribution using the Marshall and Olkin proposed method for introducing a new estimator/parameter to an existing distribution. The developed distribution will be important to the applications in some life time studies like high temperature, earthquakes, network designs, horse racing, queues in supermarket, insurance, winds, risk management, ozone concentration, flood, engineering and financial concepts. The parameters for the introduced distribution was estimated using Maximum Likelihood Estimation method. The introduced three parameters Gumbel distribution is a probability distribution function which can be used in modelling statistical data. The maximum likelihood estimates for the three parameters namely shape, location and dispersion are efficient, sufficient and consistent and this makes the function more flexible and better for application. The three parameters Gumbel distribution can be used in modeling and analysis of normal data, skewed data and extreme data since it will provide efficient, sufficient and consistent estimates.}, year = {2024} }
TY - JOUR T1 - Three-parameters Gumbel Distribution: Formulation and Parameter Estimation AU - Otieno Kevin Okumu AU - Omondi Joseph Ouno AU - Anthony Nyutu Karanjah AU - Samuel Nganga Muthiga Y1 - 2024/06/20 PY - 2024 N1 - https://doi.org/10.11648/j.ijsd.20241002.12 DO - 10.11648/j.ijsd.20241002.12 T2 - International Journal of Statistical Distributions and Applications JF - International Journal of Statistical Distributions and Applications JO - International Journal of Statistical Distributions and Applications SP - 25 EP - 37 PB - Science Publishing Group SN - 2472-3509 UR - https://doi.org/10.11648/j.ijsd.20241002.12 AB - Modeling extreme value theories is really gaining interest in the world with scientist working to improve the flexibility of the distributions by adding parameter(s). Extreme value distributions are always described to include families of Gumbel, Weibull and Frechet distributions. Of the three distributions, Gumbel distribution is the most commonly used in the extreme value theory analysis. Existing literature has shown that the addition of parameter to a distribution makes it robust and/or more flexible hence the study intends to improve the existing two parameters Gumbel distribution using the Marshall and Olkin proposed method for introducing a new estimator/parameter to an existing distribution. The developed distribution will be important to the applications in some life time studies like high temperature, earthquakes, network designs, horse racing, queues in supermarket, insurance, winds, risk management, ozone concentration, flood, engineering and financial concepts. The parameters for the introduced distribution was estimated using Maximum Likelihood Estimation method. The introduced three parameters Gumbel distribution is a probability distribution function which can be used in modelling statistical data. The maximum likelihood estimates for the three parameters namely shape, location and dispersion are efficient, sufficient and consistent and this makes the function more flexible and better for application. The three parameters Gumbel distribution can be used in modeling and analysis of normal data, skewed data and extreme data since it will provide efficient, sufficient and consistent estimates. VL - 10 IS - 2 ER -