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Enhanced Real-Life Data Modeling with the Modified Burr III Odds Ratio-G Distribution

In this study, we introduce the modified Burr III Odds Ratio–G distribution, a novel statistical model that integrates the odds ratio concept with the foundational Burr III distribution. The spotlight… Click to show full abstract

In this study, we introduce the modified Burr III Odds Ratio–G distribution, a novel statistical model that integrates the odds ratio concept with the foundational Burr III distribution. The spotlight of our investigation is cast on a key subclass within this innovative framework, designated as the Burr III Scaled Inverse Odds Ratio–G (B-SIOR-G) distribution. By effectively integrating the odds ratio with the Burr III distribution, this model enhances both flexibility and predictive accuracy. We delve into a thorough exploration of this distribution family’s mathematical and statistical properties, spanning hazard rate functions, quantile functions, moments, and additional features. Through rigorous simulation, we affirm the robustness of the B-SIOR-G model. The flexibility and practicality of the B-SIOR-G model are demonstrated through its application to four datasets, highlighting its enhanced efficacy over several well-established distributions.

Keywords: burr iii; distribution; modified burr; iii odds; odds ratio

Journal Title: Axioms
Year Published: 2024

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