Indonesian Council of Premier Statistical Science
Vol 5, No 1 (2026): February 2026

New Opportunity Model Using a Mix of 7 and 8 Gamma Chance Density Functions

Yendra, Rado (Unknown)



Article Info

Publish Date
18 Feb 2026

Abstract

This research is based on the limitations of classic distributions such as the Normal, Exponential, and Weibull in modeling real-world data with skewness, heavy tails, multimodality, or hazard rate structures, and thus it is necessary to develop a new, more flexible opportunity model. The main objective of this study is to develop a new probability model with a single parameter using a mixed-method approach that specifically employs the 7- and 8 Gamma chance density functions. The research methodology includes the reduction of important characteristics such as the cumulative distribution function, survival function, and hazard function, as well as the use of the Maximum Likelihood method with Newton–Raphson numerical iteration for parameter estimation. The results of this study are expected to prove that the single-parameter 7 and 8 Gamma mixed models have superior performance compared to the previously existing single-parameter models. The contributions of this research include theoretical development in statistical science and the provision of efficient, parsimonious alternative models for application in fields such as biostatistics, finance, and reliability analysis

Copyrights © 2026






Journal Info

Abbrev

icopsic

Publisher

Subject

Computer Science & IT Economics, Econometrics & Finance Mathematics Public Health Social Sciences

Description

Indonesian Council of Premier Statistical Science (ICoPSS) established in 2022, publishes scientific papers in the area of statistical science and its applications with E-ISSN 3030-9956. The published papers should be research papers with, but not limited to, the following topics: experimental ...