A New Class of Heavy-Tailed Distributions: Modeling and Simulating Actuarial Measures

Table 2

Monte Carlo simulation results of the HTBPT–Weibull distribution.

Set 2: , ,
	Parameters	MLE	MSEs	Biases
25		1.072	0.130	−0.127
		2.898	4.418	1.498
		0.756	0.199	0.256
100		1.152	0.040	−0.047
		2.019	1.580	0.619
		0.578	0.041	0.078
200		1.167	0.027	−0.032
		1.800	0.994	0.400
		0.549	0.022	0.049
300		1.186	0.013	−0.013
		1.750	0.745	0.280
		0.526	0.011	0.026
400		1.188	0.010	−0.011
		1.714	0.431	0.174
		0.520	0.008	0.020
500		1.196	0.010	−0.003
		1.680	0.422	0.150
		0.512	0.007	0.012
600		1.193	0.010	−0.006
		1.657	0.351	0.127
		0.512	0.008	0.012
700		1.199	0.006	−0.005
		1.610	0.215	0.080
		0.506	0.005	0.010
800		1.200	0.006	0.003
		1.573	0.219	0.073
		0.505	0.004	0.009
900		1.201	0.006	0.001
		1.530	0.179	0.060
		0.505	0.004	0.007
1000		1.198	0.004	−0.001
		1.506	0.086	0.030
		0.506	0.003	0.006