Title : ( On the contaminated exponential distribution: A theoretical Bayesian approach for modeling positive-valued insurance claim data with outliers )
Authors: Kheirolah Okhli , Mehdi Jabbari Nooghabi ,
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Abstract
Analysis of the insurance data has recently been achieved considerable attention for in- surance industries. This paper introduces the contaminated exponential (CE) distribution as an alternative platform for analyzing positive-valued insurance dataset with some lev- els of outliers. The Bayesian approach for obtaining the parameter estimates is presented. In order to check the performance of the proposed methodology, some simulation studies by implementing the Gibbs sampling are conducted. Finally, four examples of actual insur- ance claim data with various sample sizes have been analyzed to illustrate the superiority of the CE distribution in analyzing data and identifying outliers.
Keywords
Outliers Contaminated exponential distribution Mixture model Insurance and claims data Bayesian analysis Gibbs sampler
@article{paperid:1081590,
author = {Okhli, Kheirolah and Jabbari Nooghabi, Mehdi},
title = {On the contaminated exponential distribution: A theoretical Bayesian approach for modeling positive-valued insurance claim data with outliers},
journal = {Applied Mathematics and Computation},
year = {2021},
volume = {392},
number = {1},
month = {March},
issn = {0096-3003},
pages = {125712--125723},
numpages = {11},
keywords = {Outliers Contaminated exponential distribution Mixture model Insurance and claims data Bayesian analysis Gibbs sampler},
}
%0 Journal Article
%T On the contaminated exponential distribution: A theoretical Bayesian approach for modeling positive-valued insurance claim data with outliers
%A Okhli, Kheirolah
%A Jabbari Nooghabi, Mehdi
%J Applied Mathematics and Computation
%@ 0096-3003
%D 2021
