On Modeling the Earthquake Insurance Data via a New Member of the T-<i>X</i> Family

Marketing means the strategies and tactics an organization undertakes for attracting consumers to promote the buying or selling of a product or service. Active marketing is about receiving messages from potential buyers to create ways to influence their purchasing decisions. Advertising is one of the most prominent marketing strategies to promote products to consumers. It is well known that advertisement has a significant impact on the sale of certain goods or services. In this paper, we consider two mediums of advertisement, such as Facebook (which is an online medium) and Newspaper (which is a printed medium). We consider a dataset representing the advertising budget (in hundreds of US dollars) of an electronic company and the sales of that company. We apply the quantitative research approach, and the data which are used in this research are secondary data. For analysis purposes, we consider a statistical tool called simple linear regression modeling. To check the significance of the advertising on sale, definite statistical tests are applied. Based on the findings of this research, it is observed that advertising has a significant impact on sales. It is also showed that spending money on advertising through Facebook has better sales than newspapers. The finding of this research shows that the use of computer-based technologies and online mediums has a brighter future for advertising. Furthermore, a new statistical model is introduced using the Z family approach. The proposed model is very interesting and possesses heavy-tailed properties. Finally, the applicability of the proposed model is illustrated by considering the financial dataset.

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“…Recently, Ahmad et al [ 37 ] proposed a Z -family of distributions by incorporating an additional parameter. The DF of the Z -family is defined by

where F ( t ; Ξ) is a baseline distribution.…”

Section: The Proposed Distributionmentioning

confidence: 99%

Impact of Facebook and Newspaper Advertising on Sales: A Comparative Study of Online and Print Media

Lin

Ahmad

Shafik³

et al. 2021

Computational Intelligence and Neuroscience

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“…is can be widely used in actuarial science, survival analysis, and many other fields such as the risk management; for more information, see [35].…”

Section: Residual Life and Reverse Residual Lifementioning

confidence: 99%

The Arctan‐X Family of Distributions: Properties, Simulation, and Applications to Actuarial Sciences

Alkhairy

Nagy

Muse³

et al. 2021

Complexity

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The purpose of this paper is to investigate a new family of distributions based on an inverse trigonometric function known as the arctangent function. In the context of actuarial science, heavy-tailed probability distributions are immensely beneficial and play an important role in modelling data sets. Actuaries are committed to finding for such distributions in order to get an excellent fit to complex economic and actuarial data sets. The current research takes a look at a popular method for generating new distributions which are excellent candidates for dealing with heavy-tailed data. The proposed family of distributions is known as the Arctan-X family of distributions and is introduced using an inverse trigonometric function. For the specific purpose of the show of strength, we studied the Arctan-Weibull distribution as a special case of the developed family. To estimate the parameters of the Arctan-Weibull distribution, the frequentist approach, i.e., maximum likelihood estimation, is used. A rigorous Monte Carlo simulation analysis is used to determine the efficiency of the obtained estimators. The Arctan-Weibull model is demonstrated using a real-world insurance data set. The Arctan-Weibull is compared to well-known two-, three-, and four-parameter competitors. Among the competing distributions are Weibull, Kappa, Burr-XII, and beta-Weibull. For model comparison, we used the most precise tests used to know whether the Arctan-Weibull distribution is more useful than competing models.

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“…Ahmad et al [ 21 ] proposed a class of claim (CC) distributions and applied it to insurance claim data. Ahmad et al [ 22 ] introduced the Z-Weibull distribution for analyzing the earthquake insurance data. Ahmad et al [ 23 ] introduced new methods for generating heavy-tailed (HT) distributions and analyzed insurance data.…”

Section: Statistical Modelingmentioning

confidence: 99%

Impact of YouTube Advertising on Sales with Regression Analysis and Statistical Modeling: Usefulness of Online Media in Business

Zhou

Ahmad

Alsuhabi

et al. 2021

Computational Intelligence and Neuroscience

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Computer technology plays a prominent role in almost every aspect of daily life including education, health care, online shopping, advertising, and even in homes. Computers help to make daily tasks much easier and convenient. Among social media, YouTube is a well-known social sharing networking service. As more and more people join social media and become everyday users, brands have also increased their online engagement. However, it is still unclear how to effectively measure value and return on advertising using social media. As of 2021, more than 31 million YouTube channels around the globe have been opened. In this paper, we consider YouTube advertising to check its effectiveness and benefits gained. Certain statistical tools are adopted to measure the extent of advertising benefits and their correlation in creating effective advertising campaigns on YouTube. Simple linear regression analysis is performed on the data representing the YouTube advertising budget of a company and the sales data of that company. Furthermore, we develop a new statistical distribution to provide the best description of the YouTube advertising data. The result of this research shows that YouTube is an effective medium for advertising and has a strong relationship with sales.

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On Modeling the Earthquake Insurance Data via a New Member of the T-X Family

Cited by 11 publications

References 40 publications

Impact of Facebook and Newspaper Advertising on Sales: A Comparative Study of Online and Print Media

Impact of Facebook and Newspaper Advertising on Sales: A Comparative Study of Online and Print Media

The Arctan‐X Family of Distributions: Properties, Simulation, and Applications to Actuarial Sciences

Impact of YouTube Advertising on Sales with Regression Analysis and Statistical Modeling: Usefulness of Online Media in Business

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