WSEAS Transactions on Information Science and Applications
Print ISSN: 1790-0832, E-ISSN: 2224-3402
Volume 16, 2019
LQ-Moments: An Alternative to Standard L- and TL-Moments
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Abstract: The method of LQ-moments represents one of many alternatives to established population parameter estimation techniques. It is used in applied research in such fields as construction, meteorology or hydrology. The present paper focuses on the use of LQ-moments in economics, specifically in wage distribution modelling. The aim of the study is to highlight the advantages of this approach over other methods of estimating the parameters of continuous probability distributions (i.e. those of L- and TL-moments), the theoretical probability distribution being represented by three-parameter lognormal curves. The calculation of sample LQ-moments and identification of the statistical characteristics (those of level, variability, skewness and kurtosis) of a continuous probability distribution are also an integral part of the paper.
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Keywords: LQ-moments, probability distribution, normal distribution, lognormal distribution, large sample theory, comparison with L-moments and TL-moments
Pages: 119-128
WSEAS Transactions on Information Science and Applications, ISSN / E-ISSN: 1790-0832 / 2224-3402, Volume 16, 2019, Art. #14