In the dual risk model, while the ultimate ruin probability has an exact and straightforward formula, the mathematics becomes significantly more complex when considering a finite time horizon, and the literature on this topic is scarce. As a result, there is a need for numerical approximations....

Customer lifetime value is an important marketing metric and has applications in market segmentation, strategy development, and direct marketing programs, especially when customers are not under contract. In this research, we demonstrate the prediction of the lifetime value of patients in a...

Area-biased distributions are special cases of size-biased distributions. We have used the idea of area-biased distributions in this paper to propose a generalisation of a one-parameter linear exponential distribution. The concept is called the area-biased one-parameter linear exponential...

This paper explores classical and Bayesian approaches to the estimation of unknown parameters and reliability functions for the power Rayleigh distribution. The maximum likelihood estimator (MLE) method is considered in classical estimation. The Bayesian estimation, on the other hand uses...