Application of Univariate Probability Distributions Fitting With Monte Carlo Simulation

Abstract

In this study, we present a univariate probability distribution through application of the three Sub and Super Exponential heavier-longer and lighter-shorter tails fitting. This univariate family includes the Lognormal, Gamma and Weibull distribution, the adequacy of the distribution tails is obtained by adequate Fitting Tests and descriptive Criterion. It emphasizes on tail values and is independent of the number of intervals. In this regards the time series analysis for the last three centuries of the logarithm population data sets over to Karachi region (from1729 to1946 and from 1951 to 2018) is used, which contains irregular and regular length and peaks, That peaks /tails fitting is attained by methods for validation and normality tests and defined by stochastic depiction. In other hand, Weibull and Lognormal distribution tails are found as heavier distribution by two validation tests (Maximum Likelihood Estimation and probability of correct selection), In the final section, the univariate probability distributions are used to Monte Carlo simulation for generating the actual population data, it indicates that the heavy-tailed Lognormal and Weibull distributions are also fitted contract than the more commonly seen lighter tailed Gamma distribution. So, the Monte Carlo Simulation performs the appropriate Lognormal and Weibull distributions for irregular and regular data and generate data values (298 and 69) from duration of 1729 to 2020 and 1951 to 2020. Copyright(c) The Author