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Gamma Gompertz Distribution
In probability and statistics, the Gamma/Gompertz distribution is a continuous probability distribution. It has been used as an aggregate-level model of customer lifetime and a model of mortality risks. Specification Probability density function The probability density function of the Gamma/Gompertz distribution is: :f(x;b,s,\beta) = \frac where b > 0 is the scale parameter and \beta, s > 0\,\! are the shape parameters of the Gamma/Gompertz distribution. Cumulative distribution function The cumulative distribution function of the Gamma/Gompertz distribution is: :\beginF(x;b,s,\beta)& = 1 - \frac, x>0, b,s,\beta>0 \\ pt& = 1-e^, \beta=1\\\end Moment generating function The moment generating function is given by: :\begin \text(e^)= \begin\displaystyle \beta^s \frac (s+1,(t/b)+s;(t/b)+s+1;1-\beta), & \beta \ne 1; \\ \displaystyle \frac,& \beta =1. \end \end where (a,b;c;z) = \sum_^\infty a)_k(b)_k/(c)_k^k/k! is a Hypergeometric function. Properties The Gamma/Gompert ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gamma Gompertz Probability Distribution
Gamma (uppercase , lowercase ; ''gámma'') is the third letter of the Greek alphabet. In the system of Greek numerals it has a value of 3. In Ancient Greek, the letter gamma represented a voiced velar stop . In Modern Greek, this letter represents either a voiced velar fricative or a voiced palatal fricative (while /g/ in foreign words is instead commonly transcribed as γκ). In the International Phonetic Alphabet and other modern Latin-alphabet based phonetic notations, it represents the voiced velar fricative. History The Greek letter Gamma Γ is a grapheme derived from the Phoenician letter (''gīml'') which was rotated from the right-to-left script of Canaanite to accommodate the Greek language's writing system of left-to-right. The Canaanite grapheme represented the /g/ phoneme in the Canaanite language, and as such is cognate with ''gimel'' ג of the Hebrew alphabet. Based on its name, the letter has been interpreted as an abstract representation of a camel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exponential Distribution
In probability theory and statistics, the exponential distribution is the probability distribution of the time between events in a Poisson point process, i.e., a process in which events occur continuously and independently at a constant average rate. It is a particular case of the gamma distribution. It is the continuous analogue of the geometric distribution, and it has the key property of being memoryless. In addition to being used for the analysis of Poisson point processes it is found in various other contexts. The exponential distribution is not the same as the class of exponential families of distributions. This is a large class of probability distributions that includes the exponential distribution as one of its members, but also includes many other distributions, like the normal, binomial, gamma, and Poisson distributions. Definitions Probability density function The probability density function (pdf) of an exponential distribution is : f(x;\lambda) = \begin \l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of The American Statistical Association
The ''Journal of the American Statistical Association (JASA)'' is the primary journal published by the American Statistical Association, the main professional body for statisticians in the United States. It is published four times a year in March, June, September and December by Taylor & Francis, Ltd on behalf of the American Statistical Association. As a statistics journal it publishes articles primarily focused on the application of statistics, statistical theory and methods in economic, social, physical, engineering, and health sciences. The journal also includes reviews of academic books which are important to the advancement of the field. It had an impact factor of 2.063 in 2010, tenth highest in the "Statistics and Probability" category of '' Journal Citation Reports''. In a 2003 survey of statisticians, the ''Journal of the American Statistical Association'' was ranked first, among all journals, for "Applications of Statistics" and second (after ''Annals of Statist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philosophical Transactions Of The Royal Society Of London
''Philosophical Transactions of the Royal Society'' is a scientific journal published by the Royal Society. In its earliest days, it was a private venture of the Royal Society's secretary. It was established in 1665, making it the first journal in the world exclusively devoted to science, and therefore also the world's longest-running scientific journal. It became an official society publication in 1752. The use of the word ''philosophical'' in the title refers to natural philosophy, which was the equivalent of what would now be generally called ''science''. Current publication In 1887 the journal expanded and divided into two separate publications, one serving the physical sciences ('' Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences'') and the other focusing on the life sciences ('' Philosophical Transactions of the Royal Society B: Biological Sciences''). Both journals now publish themed issues and issues resulting from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Lifetime Value
In marketing, customer lifetime value (CLV or often CLTV), lifetime customer value (LCV), or life-time value (LTV) is a prognostication of the net profit contributed to the whole future relationship with a customer. The prediction model can have varying levels of sophistication and accuracy, ranging from a crude heuristic to the use of complex predictive analytics techniques. Customer lifetime value can also be defined as the monetary value of a customer relationship, based on the present value of the projected future cash flows from the customer relationship. Customer lifetime value is an important concept in that it encourages firms to shift their focus from quarterly profits to the long-term health of their customer relationships. Customer lifetime value is an important metric because it represents an upper limit on spending to acquire new customers.Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gompertz Distribution
In probability and statistics, the Gompertz distribution is a continuous probability distribution, named after Benjamin Gompertz. The Gompertz distribution is often applied to describe the distribution of adult lifespans by demographers and actuaries. Related fields of science such as biology and gerontology also considered the Gompertz distribution for the analysis of survival. More recently, computer scientists have also started to model the failure rates of computer code by the Gompertz distribution. In Marketing Science, it has been used as an individual-level simulation for customer lifetime value modeling. In network theory, particularly the Erdős–Rényi model, the walk length of a random self-avoiding walk (SAW) is distributed according to the Gompertz distribution. Specification Probability density function The probability density function of the Gompertz distribution is: :f\left(x;\eta, b\right)=b\eta \exp\left(\eta + b x -\eta e^ \right)\textx \geq 0, \, where ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conjugate Prior
In Bayesian probability theory, if the posterior distribution p(\theta \mid x) is in the same probability distribution family as the prior probability distribution p(\theta), the prior and posterior are then called conjugate distributions, and the prior is called a conjugate prior for the likelihood function p(x \mid \theta). A conjugate prior is an algebraic convenience, giving a closed-form expression for the posterior; otherwise, numerical integration may be necessary. Further, conjugate priors may give intuition by more transparently showing how a likelihood function updates a prior distribution. The concept, as well as the term "conjugate prior", were introduced by Howard Raiffa and Robert Schlaifer in their work on Bayesian decision theory. Howard Raiffa and Robert Schlaifer. ''Applied Statistical Decision Theory''. Division of Research, Graduate School of Business Administration, Harvard University, 1961. A similar concept had been discovered independently by George ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gamma Distribution
In probability theory and statistics, the gamma distribution is a two- parameter family of continuous probability distributions. The exponential distribution, Erlang distribution, and chi-square distribution are special cases of the gamma distribution. There are two equivalent parameterizations in common use: #With a shape parameter k and a scale parameter \theta. #With a shape parameter \alpha = k and an inverse scale parameter \beta = 1/ \theta , called a rate parameter. In each of these forms, both parameters are positive real numbers. The gamma distribution is the maximum entropy probability distribution (both with respect to a uniform base measure and a 1/x base measure) for a random variable X for which E 'X''= ''kθ'' = ''α''/''β'' is fixed and greater than zero, and E n(''X'')= ''ψ''(''k'') + ln(''θ'') = ''ψ''(''α'') − ln(''β'') is fixed (''ψ'' is the digamma function). Definitions The parameterization with ''k'' and ''θ'' appears to be more common ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gamma Gompertz Cumulative Distribution Function
Gamma (uppercase , lowercase ; ''gámma'') is the third letter of the Greek alphabet. In the system of Greek numerals it has a value of 3. In Ancient Greek, the letter gamma represented a voiced velar stop . In Modern Greek, this letter represents either a voiced velar fricative or a voiced palatal fricative (while /g/ in foreign words is instead commonly transcribed as γκ). In the International Phonetic Alphabet and other modern Latin-alphabet based phonetic notations, it represents the voiced velar fricative. History The Greek letter Gamma Γ is a grapheme derived from the Phoenician letter (''gīml'') which was rotated from the right-to-left script of Canaanite to accommodate the Greek language's writing system of left-to-right. The Canaanite grapheme represented the /g/ phoneme in the Canaanite language, and as such is cognate with ''gimel'' ג of the Hebrew alphabet. Based on its name, the letter has been interpreted as an abstract representation of a camel' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cumulative Distribution Function
In probability theory and statistics, the cumulative distribution function (CDF) of a real-valued random variable X, or just distribution function of X, evaluated at x, is the probability that X will take a value less than or equal to x. Every probability distribution supported on the real numbers, discrete or "mixed" as well as continuous, is uniquely identified by an ''upwards continuous'' ''monotonic increasing'' cumulative distribution function F : \mathbb R \rightarrow ,1/math> satisfying \lim_F(x)=0 and \lim_F(x)=1. In the case of a scalar continuous distribution, it gives the area under the probability density function from minus infinity to x. Cumulative distribution functions are also used to specify the distribution of multivariate random variables. Definition The cumulative distribution function of a real-valued random variable X is the function given by where the right-hand side represents the probability that the random variable X takes on a value less ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shape Parameter
In probability theory and statistics, a shape parameter (also known as form parameter) is a kind of numerical parameter of a parametric family of probability distributionsEveritt B.S. (2002) Cambridge Dictionary of Statistics. 2nd Edition. CUP. that is neither a location parameter nor a scale parameter (nor a function of these, such as a rate parameter). Such a parameter must affect the ''shape'' of a distribution rather than simply shifting it (as a location parameter does) or stretching/shrinking it (as a scale parameter does). For example, "peakedness" refers to how round the main peak is. Estimation Many estimators measure location or scale; however, estimators for shape parameters also exist. Most simply, they can be estimated in terms of the higher moments, using the method of moments, as in the ''skewness'' (3rd moment) or ''kurtosis'' (4th moment), if the higher moments are defined and finite. Estimators of shape often involve higher-order statistics (non-linear fun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
