A New Modification in the Classical Laplace Distribution
Authors
Abstract:
‎Several modifications of the Laplace distribution have been introduced and applied in various fields up to this day‎. ‎In this paper‎, ‎we introduce a modified symmetric version of the classical Laplace distribution‎. ‎We provide a comprehensive theoretical description of this distribution‎. ‎In particular‎, ‎we derive the formulas for the $k$th moment‎, ‎quantiles and several useful alternative representations of the distribution‎. ‎We derive the maximum likelihood estimators of the parameters and investigate their properties via simulation‎. ‎Finally‎, ‎we analyse three real-world datasets to illustrate the usefulness of the modified classical Laplace distribution‎. ‎The results suggest that further improvement to classical Laplace distribution fitting is possible and the new model provides an attractive alternative to the classical Laplace distribution.
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Journal title
volume 14 issue None
pages 93- 118
publication date 2015-12
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