The Minimax Distribution: A Beta-Type Distribution With Some Tractability Advantages
نویسنده
چکیده
A two-parameter family of distributions on (0, 1) is explored which has many similarities to the beta distribution and a number of advantages in terms of tractability (it also, of course, has some disadvantages). The minimax distribution, so-called because of its genesis in terms of uniform order statistics, particularly has straightforward distribution and quantile functions which do not depend on special functions (and hence afford very easy random variate generation). The distribution might, therefore, have a particular role when a quantile-based approach to statistical modelling is taken, and its tractability has appeal for pedagogical uses.
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