ON THE UTILITY OF [0,1]-VALUED CONTINUOUS LIFETIME DISTRIBUTIONS: A REVIEW
DOI:
https://doi.org/10.60787/tnamp-19-53-62Keywords:
Beta Distribution, Continuous Bernoulli Distribution, Kumaraswamy Distribution, Lifetime DistributionAbstract
Recent studies on the theory of statistical distribution reveal a wide application of continuous lifetime distributions with support [0,1] in real world data fittings. Bounded lifetime distributions such as Kumaraswamy distribution, Beta distribution, one-parameter Topp-Leone distribution and the recently developed continuous Bernoulli distribution have gained popularity in modelling real datasets taking the form of proportions, percentages, probabilities, etc.
Several attempts have been made to generalize these continuous lifetime distributions in order to increase their chance of providing good fit in real life data analysis. This paper presents a general review on the utility of [0,1]-valued lifetime distributions.
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