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Published online by Cambridge University Press: 13 April 2022
The four-parameter beta Lomax (FPBL) distribution is a generalization of the beta distribution through random variable transformation. The FPBL distribution may be reduced to three-parameter distribution and may also be extended to five-parameter beta Lomax distribution by adding the location parameter. In this chapter, the FPBL distribution is derived using the entropy theory and then its parameters are estimated with the principle of maximum entropy and the method of maximum likelihood estimation.
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