The Standard Two-Sided Power Distribution and its Properties

Abstract

AbstractThis article discusses a family of distributions which would seem not to receive proper attention in the literature. The two-parameter distribution is introduced with an application in the financial engineering domain. Special cases of this family include the triangular distribution, the standard power function distribution, and the uniform distribution. Properties of the distribution are investigated and the maximum likelihood estimation procedure for its two parameters is derived. The flexibility of the family as compared to that of the beta family is discussed.KEY WORDS: Beta distributionTriangular distributionView correction statement:Corrections