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The Lindley Gompertz Model for Estimating the Survival Rates: Properties and Applications in Insurance

Author

Listed:
  • Heba Soltan Mohamed

    (Horus University)

  • M. Masoom Ali

    (Ball State University)

  • Haitham M. Yousof

    (Benha University)

Abstract

This paper introduces a new extension of the Gompertz function for estimating the survival rates. The actual survival rates from USA life tables 2015 is considered for assessment process under the ordinary least squares method. A real data application is presented under the maximum likelihood method. The new Gompertz function is compared with many other competitive ones such as the Gompertz, the exponentiated Gompertz, the Rayleigh Gompertz, Weibull Gompertz, the Burr type X Gompertz and Rayleigh generalized Gompertz models.

Suggested Citation

  • Heba Soltan Mohamed & M. Masoom Ali & Haitham M. Yousof, 2023. "The Lindley Gompertz Model for Estimating the Survival Rates: Properties and Applications in Insurance," Annals of Data Science, Springer, vol. 10(5), pages 1199-1216, October.
    • Handle: RePEc:spr:aodasc:v:10:y:2023:i:5:d:10.1007_s40745-022-00450-4
    DOI: 10.1007/s40745-022-00450-4
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    References listed on IDEAS

    as
    1. Mahmoud M. Mansour & Mohamed Ibrahim & Khaoula Aidi & Nadeem Shafique Butt & Mir Masoom Ali & Haitham M. Yousof & Mohamed S. Hamed, 2020. "A New Log-Logistic Lifetime Model with Mathematical Properties, Copula, Modified Goodness-of-Fit Test for Validation and Real Data Modeling," Mathematics, MDPI, vol. 8(9), pages 1-20, September.
    2. John Bongaarts, 2005. "Long-range trends in adult mortality: Models and projection methods," Demography, Springer;Population Association of America (PAA), vol. 42(1), pages 23-49, February.
    3. Haitham M. Yousof & Mustafa Ç. Korkmaz & Subhradev Sen, 2021. "A New Two-Parameter Lifetime Model," Annals of Data Science, Springer, vol. 8(1), pages 91-106, March.
    4. Albert C. Bemmaor & Nicolas Glady, 2012. "Modeling Purchasing Behavior with Sudden "Death": A Flexible Customer Lifetime Model," Management Science, INFORMS, vol. 58(5), pages 1012-1021, May.
    5. W. J. Willemse & H. Koppelaar, 2000. "Knowledge Elicitation of Gompertz' Law of Mortality," Scandinavian Actuarial Journal, Taylor & Francis Journals, vol. 2000(2), pages 168-179.
    6. Yousof Haitham M. & Masoom Ali M. & Goual Hafida & Ibrahim Mohamed, 2021. "A new reciprocal Rayleigh extension: properties, copulas, different methods of estimation and a modified right-censored test for validation," Statistics in Transition New Series, Polish Statistical Association, vol. 22(3), pages 99-121, September.
    7. James M. Tien, 2017. "Internet of Things, Real-Time Decision Making, and Artificial Intelligence," Annals of Data Science, Springer, vol. 4(2), pages 149-178, June.
    8. Haitham M. Yousof & M. Masoom Ali & Hafida Goual & Mohamed Ibrahim, 2021. "A new reciprocal Rayleigh extension: properties, copulas, different methods of estimation and a modified right-censored test for validation," Statistics in Transition New Series, Polish Statistical Association, vol. 22(3), pages 99-121, September.
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