In probability theory, statistics and econometrics, the Burr Distribution is a continuous probability distribution for non-negative random variables. It is one of a number of different distributions called the "generalized log-logistic distribution". It is most commonly used to model household income, crop prices, insurance risk, travel time, flood levels, and failure data.
For the Burr Distribution App four data parameters are used to calculate four Burr Distribution results - the PDF and CDF values, the Burr Distribution Mean and the Burr Distribution Variance.
The four data parameters are:
Scale Parameter(α)
Location Parameter LP(γ)
Shape Parameter (c)
Shape Parameter (k)
The Burr Distribution App provides for PDF and CDF Graphs.which are touch interactive graphs for computed (x/Pr(x) paired values. The graphs hav a touch feature whereby upon the touch a slidable vertical line appears. Upon movement of the line a paired (x,f(x;c,k) values appear relative to the line position on the graph curve.
The horizontal x-axis displays computed (x) values. The vertical y-axis plots a range of f(x:c,k) values.