The ratio R of two random quantities is frequently encountered in probability and statistics. But while for unidimensional statistical variables the distribution of R can be computed relatively easily, for symmetric p...The ratio R of two random quantities is frequently encountered in probability and statistics. But while for unidimensional statistical variables the distribution of R can be computed relatively easily, for symmetric positive definite random matrices, this ratio can take various forms and its distribution, and even its definition, can offer many challenges. However, for the distribution of its determinant, Meijer G-function often provides an effective analytic and computational tool, applicable at any division level, because of its reproductive property.展开更多
The Weibull distribution is a probability density function (PDF) which is widely used in the study of meteorological data. The statistical analysis of the wind speed v by using the Weibull distribution leads to the es...The Weibull distribution is a probability density function (PDF) which is widely used in the study of meteorological data. The statistical analysis of the wind speed v by using the Weibull distribution leads to the estimate of the mean wind speed , the variance of v around and the mean power density in the wind. The gamma function Γ is involved in those calculations, particularly Γ (1+1/k), Γ (1+2/k) and Γ (1+3/k). The paper reports the use of the Weibull PDF f(v) to estimate the gamma function. The study was performed by looking for the wind speeds related to the maximum values of f(v), v2 f(v) and v3 f(v). As a result, some approximate relationships were obtained for Γ (1+1/k), Γ (1+2/k) and Γ (1+3/k), that use some fitting polynomial functions. Very good agreements were found between the exact and the estimated values of Γ (1+n/k) that can be used for the estimation of the mean wind speed , the variance σ2 of the wind speed v;around the mean speed and the average wind power density.展开更多
Ghana, renowned for its abundant gold reserves, plays a significant role in the global mining industry. Effective management and accurate forecasting of these reserves are vital for sustainable resource utilization an...Ghana, renowned for its abundant gold reserves, plays a significant role in the global mining industry. Effective management and accurate forecasting of these reserves are vital for sustainable resource utilization and economic planning. Forecasting gold reserves and estimating their production lifespan are complex tasks that require robust statistical models capable of capturing the underlying dynamics of gold deposit accumulation and extraction. To this end, the four-parameter Beta distribution function emerges as a promising candidate due to its flexibility and ability to handle non-negative data. This research aims to investigate the fitness and applicability of the four-parameter Beta distribution function for forecasting Ghana’s gold reserves and estimating the production lifespan of this precious resource. The empirical paper relied mainly on quarterly secondary datasets on gold reserve between the years 2009 and 2022 secured from the Minerals Commission of Ghana, Accra. Several known statistical distributions including Beta, Weibull, Normal, Logistic and Gamma were explored with Maximum Likelihood Estimation (MLE) and evaluated using model selection criteria as AIC and BIC. Goodness of Fits were evaluated using Kolmogorov-Smirnov Test (K-S), Cramer-Von Mises Statistic and Anderson-Darling Statistic. Based on the analysis conducted, the four-parameter Beta distribution provided the best fit for gold reserve in Ghana. At a 99.9% confidence level and considering the current annual average gold production estimate of 3,700,031.248 to 4,302,647.888 ounces, the projected lifespan of gold production in Ghana extends to the year 1,953,765. This astounding estimate suggests that the country’s gold reserves are expected to sustain production for an extended period, providing a critical resource for economic development and supporting the mining industry well into the distant future.展开更多
文摘The ratio R of two random quantities is frequently encountered in probability and statistics. But while for unidimensional statistical variables the distribution of R can be computed relatively easily, for symmetric positive definite random matrices, this ratio can take various forms and its distribution, and even its definition, can offer many challenges. However, for the distribution of its determinant, Meijer G-function often provides an effective analytic and computational tool, applicable at any division level, because of its reproductive property.
文摘The Weibull distribution is a probability density function (PDF) which is widely used in the study of meteorological data. The statistical analysis of the wind speed v by using the Weibull distribution leads to the estimate of the mean wind speed , the variance of v around and the mean power density in the wind. The gamma function Γ is involved in those calculations, particularly Γ (1+1/k), Γ (1+2/k) and Γ (1+3/k). The paper reports the use of the Weibull PDF f(v) to estimate the gamma function. The study was performed by looking for the wind speeds related to the maximum values of f(v), v2 f(v) and v3 f(v). As a result, some approximate relationships were obtained for Γ (1+1/k), Γ (1+2/k) and Γ (1+3/k), that use some fitting polynomial functions. Very good agreements were found between the exact and the estimated values of Γ (1+n/k) that can be used for the estimation of the mean wind speed , the variance σ2 of the wind speed v;around the mean speed and the average wind power density.
文摘Ghana, renowned for its abundant gold reserves, plays a significant role in the global mining industry. Effective management and accurate forecasting of these reserves are vital for sustainable resource utilization and economic planning. Forecasting gold reserves and estimating their production lifespan are complex tasks that require robust statistical models capable of capturing the underlying dynamics of gold deposit accumulation and extraction. To this end, the four-parameter Beta distribution function emerges as a promising candidate due to its flexibility and ability to handle non-negative data. This research aims to investigate the fitness and applicability of the four-parameter Beta distribution function for forecasting Ghana’s gold reserves and estimating the production lifespan of this precious resource. The empirical paper relied mainly on quarterly secondary datasets on gold reserve between the years 2009 and 2022 secured from the Minerals Commission of Ghana, Accra. Several known statistical distributions including Beta, Weibull, Normal, Logistic and Gamma were explored with Maximum Likelihood Estimation (MLE) and evaluated using model selection criteria as AIC and BIC. Goodness of Fits were evaluated using Kolmogorov-Smirnov Test (K-S), Cramer-Von Mises Statistic and Anderson-Darling Statistic. Based on the analysis conducted, the four-parameter Beta distribution provided the best fit for gold reserve in Ghana. At a 99.9% confidence level and considering the current annual average gold production estimate of 3,700,031.248 to 4,302,647.888 ounces, the projected lifespan of gold production in Ghana extends to the year 1,953,765. This astounding estimate suggests that the country’s gold reserves are expected to sustain production for an extended period, providing a critical resource for economic development and supporting the mining industry well into the distant future.
