The Lindley Gompertz Model for Estimating the Survival Rates: Properties and Applications in Insurance

This paper introduces a new extension of the Gompertz function for estimating the survival rates. The actual survival rates from USA life tables 2015 is considered for assessment process under the ordinary least squares method. A real data application is presented under the maximum likelihood method...

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Bibliographic Details
Published in:Annals of data science 2023-10, Vol.10 (5), p.1199-1216
Main Authors: Mohamed, Heba Soltan, Ali, M. Masoom, Yousof, Haitham M.
Format: Article
Language:English
Subjects:
Artificial Intelligence
Big Data
Business and Management
Data analysis
Data science
Economics
Finance
Gompertz curves
Insurance
Kurtosis
Least squares method
Management
Maximum likelihood method
Random variables
Skewness
Statistics
Statistics for Business
Survival
Survival analysis
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Summary:This paper introduces a new extension of the Gompertz function for estimating the survival rates. The actual survival rates from USA life tables 2015 is considered for assessment process under the ordinary least squares method. A real data application is presented under the maximum likelihood method. The new Gompertz function is compared with many other competitive ones such as the Gompertz, the exponentiated Gompertz, the Rayleigh Gompertz, Weibull Gompertz, the Burr type X Gompertz and Rayleigh generalized Gompertz models.
ISSN:2198-5804
2198-5812
DOI:10.1007/s40745-022-00450-4