International Journal of Mathematics and Mathematical Sciences
Volume 2006 (2006), Issue 10, Pages 16156, 14 p.
doi:10.1155/IJMMS/2006/16156
Beta Bessel distributions
Arjun K. Gupta1
and Saralees Nadarajah2
1Department of Mathematics and Statistics, Bowling Green State University, Bowling Green 43403, OH, USA
2School of Mathematics, University of Manchester, Oxford Road, Manchester M13 9PL, UK
Abstract
Three new distributions on the unit interval [0,1] are introduced which generalize the standard beta distribution. These distributions involve the Bessel function. Expression is derived for their shapes, particular cases, and the nth moments. Estimation by the method of maximum likelihood and Bayes estimation are discussed. Finally, an application to consumer price indices is illustrated to show that the proposed distributions are better models to economic data than one based on the standard beta distribution.