On the Flexible Alpha Skew-logistic Distribution: Properties and Applications

Abstract

This article introduces a novel class of skew-logistic distribution, providing flexibility to fit data with up to three modes. Various important properties of this new distribution are thoroughly examined, including its moment generating function, moments, entropy, and characterizations. Considering the location and scale parameters, a model extension and its parameter estimation technique are included. The study also includes a simulation study using the Metropolis--Hastings algorithm to observe the behavior of the estimated parameters. Furthermore, the adaptability and utility of the new model are assessed using three real-life datasets. Finally, a likelihood ratio test is applied to distinguish the introduced model from some other simpler models.