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On models for business failure data

✍ Scribed by Satya D. Dubey

Publisher
John Wiley and Sons
Year
1971
Tongue
English
Weight
253 KB
Volume
18
Category
Article
ISSN
0894-069X

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✦ Synopsis

It is pointed out in this paper that Lomax's hyperbolic function is a special case of both Compound Gamma and Compound Weibull distributions, and both of these distributions provide better models for Lomax's business failure data than his hyperbolic and exponential functions. Since his exponential function fails to yield a valid distribution function, a necessary condition is established to remedy this drawback. In the light of this result, his exponential function is modified in several ways. It is further shown that a natural complement of Lomax's exponential function does not suffer from this drawback.

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