USE OF THE L'EVY DISTRIBUTION FOR ADJUST DATA WITH MARK ASYMMETRY AND EXTREME VALUES

Abstract

In order to propose a statistical methodology that allows to model asymmetric data using the L´evy distribution, a simulation study is presented under nine different scenarios to evaluate the estimation of the parameters of the distribution in the two approaches of statistics (Classical and Bayesian). The probability distributions Log-Normal, L´evy and L´evy Standard were considered to model the behavior of two real data sets with positive asymmetry, finding that the L´evy distribution fitted wellto the proposed data set, therefore the L´evy distribution can be considered as a candidate to adjust asymmetric data with the presence of extreme values.