The Lindley Gompertz Model for Estimating the Survival Rates: Properties and Applications in Insurance

15-10-2022

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Authors: Heba Soltan Mohamed; M. Masoom Ali; Haitham M. Yousof
Published in: Annals of Data Science | Issue 5/2023

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Abstract

The Lindley Gompertz (LGz) model, an extension of the Gompertz distribution, is introduced and studied for its properties and applications in survival rate estimation. The LGz model offers greater flexibility in modeling lifetime data, with a hazard rate function that can take various shapes. The article delves into the statistical properties of the LGz model, including moments, order statistics, and survival functions. It also compares the LGz model with other competitive models using goodness-of-fit measures and maximum likelihood estimation. The LGz model is shown to provide a better fit for real-world data, such as survival rates from the 2015 USA life tables. The study concludes with potential future research directions, including the development of new goodness-of-fit tests and multivariate extensions of the LGz model.

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Title: The Lindley Gompertz Model for Estimating the Survival Rates: Properties and Applications in Insurance
Authors: Heba Soltan Mohamed
M. Masoom Ali
Haitham M. Yousof
Publication date: 15-10-2022
Publisher: Springer Berlin Heidelberg
Published in: Annals of Data Science / Issue 5/2023
Print ISSN: 2198-5804
Electronic ISSN: 2198-5812
DOI: https://doi.org/10.1007/s40745-022-00450-4

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The Lindley Gompertz Model for Estimating the Survival Rates: Properties and Applications in Insurance

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