A generalized polynomial-logistic distribution and applications

ABSTRACT

In the present article we introduce a new class of distributions which nests the classical Logistic distribution and offers additional flexibility when data fitting is chased. We provide exact expressions for its moments and absolute moments, investigate its ageing properties, and discuss several techniques for estimating its parameters. Finally, we use the new family to build a parametric model that describes accurately the Euro/CAD exchange reference rates for the period 1/4/1999–12/31/2011.

KEY WORDS AND PHRASES:

• Generalized Logistic distribution
• logit transformation
• skew distributions
• maximum likelihood estimation
• moment estimators
• real data modelling

Mathematics Subject Classification:

• 60E05
• 62E15
• 62F10
• 62P20
• 91B70

Notes

1 The observed and expected frequencies were evaluated by using 10 bins.