Extended Poisson-Pareto Type II Distribution: Theoretical and Computational Aspects

We introduce a new continuous model with strong physical motivations and wide applications upon compounding the discrete zero truncated Poisson model and a new continuous model called the Burr X Pareto type II distribution. Some of its mathematical and statistical properties are derived as well as four applications to real data sets are provided with details to illustrate the wide importance of the new model. We conclude that the new model is better than other nine competitive models via the four applications. Method of maximum likelihood is used to estimate the unknown parameters of the new model. The new model provides adequate fits as compared to other related models in the four applications.