Title: Actuarial applications of a new Weibull-type distribution
Authors: Boris Choy - University of Sydney (Australia) [presenting]
Abstract: An extension to the class of contaminated Weibull distribution is proposed for statistical modelling. The extra parameter in the proposed distribution allows for more flexibility in the estimation of moments and the modelling of the tail behaviour. The properties of the distribution are presented and compared with the existing contaminated Weibull distribution. Bayesian simulation-based methods will be used for statistical inference. We shall demonstrate the adequacy of the proposed distribution in modelling positively-valued data in actuarial applications.