3.A random variable Y is said to have a Fisk distribution with parameter 0 > 0 ifthe density function of Y is20 yf(y|0)(1+ Oy²)²for y > 0. Using an appropriate pivotal quantity, verify that2 - a(2a) Y2a Y2is a confidence interval for 0 with coverage probability 1 – a where 0 < a < 1.Note that the Fisk distribution is also used in actuarial science to model the distribution of wealth.

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Answered: 20 y (1+ Oy²)² > 0. Using an…

MATLAB: An Introduction with Applications

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20 y (1+ Oy²)² > 0. Using an appropriate pivotal quantity, verify that f(y|0) for 2 - a (2 a) Y2 a Y2 is a confidence interval for 0 with coverage probability 1 - a where 0 < a < 1.