|
Abstract
|
The objectives of this study are to propose a new two-parameter lifespan distribution
and explain some of the most essential properties of that distribution. Through the
course of this investigation, we will be able to achieve both of these objectives. For
the aim of assessment, research is carried out that makes use of simulation, and for the
samereason,avarietyofvariousapproachesarestudiedandtakenintoaccountforthe
purposeofevaluation.Makinguseoftwoseparatedatacollectionsenablesananalysis
of the adaptability of the suggested distribution to a number of different contexts. The
risk exposure in the context of asymmetric bimodal right-skewed precipitation data
was further defined by using five essential risk indicators, such as value-at-risk, tail-
value-at-risk, tail variance, tail mean–variance, and mean excess loss function. This
was done in order to account for the right-skewed distribution of the data. In order to
examinethedata,severalriskindicatorswereutilized.Theseriskindicatorswereused
in order to achieve a more in-depth description of the risk exposure that was being
faced.
|