Damanhour University Researcher Adds New Data to Research in Mathematics (A New Lomax Extension: Properties, Risk Analysis, Censored and Complete Goodness-of-Fit Validation Testing under Left-Skewed Insurance, Reliability and Medical Data): Mathematics

2023 JUL 26 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on mathematics have been published. According to news reporting out of Damanhour, Egypt, by NewsRx editors, research stated, “The idea of symmetry, which is used to describe the shape of a probability distribution, is a key concept in the theory of probability.”

Funders for this research include King Saud University.

The news reporters obtained a quote from the research from Damanhour University: “The use of symmetric and asymmetric distributions is common in statistical inference, decision-making, and probability calculations. This article introduces a novel asymmetric model for assessing risks under a skewed claims dataset. The new distribution is also employed for both censored and uncensored validation testing. Four estimation methods, maximum likelihood, ordinary least squares, L-Moment, and Anderson Darling, were used for the risk assessment and analysis. To explain the exposure to risk within actuarial claims data, we introduced five crucial indicators, namely value-at-risk, tail-value-at-risk, tail variance, tail mean-variance, and mean excess losses. A numerical and graphical analysis is presented to assess the actuarial risk.”

According to the news editors, the research concluded: “Furthermore, the article discusses a newly developed Rao Robson Nikulin statistic for censored and uncensored validation testing. The validation testing also involved the insurance claims dataset.”

For more information on this research see: A New Lomax Extension: Properties, Risk Analysis, Censored and Complete Goodness-of-Fit Validation Testing under Left-Skewed Insurance, Reliability and Medical Data. Symmetry, 2023,15(7). (Symmetry - http://www.mdpi.com/journal/symmetry/). The publisher for Symmetry is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/sym15071356.

Our news journalists report that more information may be obtained by contacting Moustafa Salem, Department of Applied Statistics, Damanhour University, Damanhour 22511, Egypt. Additional authors for this research include Walid Emam, Yusra Tashkandy, Mohamed Ibrahim, M. Masoom Ali, Hafida Goual, Haitham M. Yousof.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the authors of this research: Walid Emam (http://orcid.org/0000-0002-6810-6640), Yusra Tashkandy (http://orcid.org/0000-0003-2878-4460), Mohamed Ibrahim (http://orcid.org/0000-0003-4893-9669), Haitham M. Yousof (http://orcid.org/0000-0003-4589-4944).

(Our reports deliver fact-based news of research and discoveries from around the world.)