3. A random variable Y is said to have a Fisk distribution with parameter 0 > 0 if the density function of Y is 20 y f(y|0) (1+ Oy²)² for y > 0. Using an appropriate pivotal quantity, verify that 2 -...

3.<br>A random variable Y is said to have a Fisk distribution with parameter 0 > 0 if<br>the density function of Y is<br>20 y<br>f(y|0)<br>(1+ Oy²)²<br>for y > 0. Using an appropriate pivotal quantity, verify that<br>2 - a<br>(2<br>a) Y2<br>a Y2<br>is a confidence interval for 0 with coverage probability 1 – a where 0 < a < 1.<br>Note that the Fisk distribution is also used in actuarial science to model the distribution of wealth.<br>

Extracted text: 3. A random variable Y is said to have a Fisk distribution with parameter 0 > 0 if the density function of Y is 20 y f(y|0) (1+ Oy²)² for y > 0. Using an appropriate pivotal quantity, verify that 2 - a (2 a) Y2 a Y2 is a confidence interval for 0 with coverage probability 1 – a where 0 < a="">< 1.="" note="" that="" the="" fisk="" distribution="" is="" also="" used="" in="" actuarial="" science="" to="" model="" the="" distribution="" of="">

Jun 09, 2022

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3. A random variable Y is said to have a Fisk distribution with parameter 0 > 0 if the density function of Y is 20 y f(y|0) (1+ Oy²)² for y > 0. Using an appropriate pivotal quantity, verify that 2 -...

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