Beta Bessel distributions (Q885628)

Summary: Three new distributions on the unit interval \([0,1]\) are introduced which generalize the standard beta distribution. These distributions involve the Bessel function. Expression is derived for their shapes, particular cases, and the \(n\)th moments. Estimation by the method of maximum likelihood and Bayes estimation are discussed. Finally, an application to consumer price indices is illustrated to show that the proposed distributions are better models to economic data than one based on the standard beta distribution.