Mohammed Elgarhy1, Amal S. Hassan2, Najwan Alsadat3, Oluwafemi Samson Balogun4, Ahmed W. Shawki5, Ibrahim E. Ragab6,*
CMES-Computer Modeling in Engineering & Sciences, Vol.142, No.3, pp. 2547-2583, 2025, DOI:10.32604/cmes.2025.058362
- 03 March 2025
Abstract Accurately modeling heavy-tailed data is critical across applied sciences, particularly in finance, medicine, and actuarial analysis. This work presents the heavy-tailed power XLindley distribution (HTPXLD), a unique heavy-tailed distribution. Adding one more parameter to the power XLindley distribution improves this new distribution, especially when modeling leptokurtic lifetime data. The suggested density provides greater flexibility with asymmetric forms and different degrees of peakedness. Its statistical features, like the quantile function, moments, extropy measures, incomplete moments, stochastic ordering, and stress-strength parameters, are explored. We further investigate its use in actuarial science through the computation of pertinent metrics,… More >