Alzaatreh, AymanAljarrah, Mohammad A.Smithson, MichaelShahbaz, Saman HanifShahbaz, Muhammad QaiserFamoye, FelixLee, Carl2023-12-12Alzaatreh, A., Aljarrah, M.A., Smithson, M. et al. Truncated Family of Distributions with Applications to Time and Cost to Start a Business. Methodol Comput Appl Probab 23, 5–27 (2021). https://doi.org/10.1007/s11009-020-09801-11387-5841http://hdl.handle.net/1885/309814The time and cost to start a business are highly related to the degree of transparency of business information, which strongly impacts the loss due to illicit financial flows. In order to study the distributional characteristics of time and cost to start a business, we introduce right-truncated and left-truncated T-X families of distributions. These families are used to construct new generalized families of continuous distributions. Relationships between the families are investigated. Real data sets including time and cost to start a business are analyzed and the results show that the truncated families perform very well for fitting highly skewed data.Felix Famoye gratefully acknowledges the financial support received from the US Department of State, Bureau of Education and Cultural Affairs Fulbright Grant# PS00230565.application/pdfen-AU© 2020 Springer Science+Business Media, LLC, part of Springer NatureDistribution shapeGeneralized distributionsQuantile functionTransparency2020-07-0210.1007/s11009-020-09801-12022-09-11