Article ID Journal Published Year Pages File Type
5076272 Insurance: Mathematics and Economics 2016 11 Pages PDF
Abstract
The Log-Lindley distribution is a continuous probability model with useful applications in insurance and inventory management. In this note, it is proven that pseudo-random data from this model can be generated by computer via the Lambert W function. A reparametrization suitable to get estimates of the parameters is proposed. Moreover, it is shown that this reparametrization is appropriate to perform a regression analysis with dependent variable taking values in the unit interval.
Related Topics
Physical Sciences and Engineering Mathematics Statistics and Probability
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