Work

The Generalized Unit Weibull Distribution: Properties, Estimation, and Applications in Actuarial Science and Insurance

Year: 2025

Type: article

Abstract: This study introduces the Generalized Unit Weibull (GUW) distribution, an extension of the Unit Weibull distribution achieved through transformation and the inclusion of additional parameters. We explore key theoretical properties of this novel distribution, including stochastic functions, quantile functions and measures, moments, and Rényi entropy. The model's unknown parameters are estimated using the maximum likelihood method. To demonstrate its applicability, we compare the proposed model with existing alternatives using two real-world data sets, particularly in actuarial science and insurance.

Source: European Journal of Statistics

DOI: 10.28924/ada/stat.5.11

Authors: Mintodê Nicodème Atchadé, Géoffroy Bill Zoffoun, Mahoulé Jude Bogninou, Théophile Otodji, Aliou Moussa Djibril

Institution: National University of Sciences, Technologies, Engineering and Mathematics

Language: English

Topic: Statistical Distribution Estimation and Applications

Subfield: Statistics and Probability

Field: Mathematics

Domain: Physical Sciences

Open Access status: hybrid

OpenAlex ID: W4411457326

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