A family of generalised beta distributions: properties and applications

Abstract

Abstract A family of continuous distributions with bounded support, which is a generalisation of the standard beta distribution, is introduced. We study some basic properties of the new family and simulation experiments are performed to observe the behaviour of the maximum likelihood estimators. We also derive a multivariate version of the proposed distributions. Three numerical experiments were performed to determine the flexibility of the new family of distributions in comparison with other extensions of the beta distribution that have been proposed. In this respect, the new family was found to be superior.