Log-logistic distribution

The log-logistic distribution is a continuous probability distribution used in statistics and reliability analysis. It is particularly useful for modeling the distribution of positive random variables, especially in contexts where the data exhibits a skewed distribution and has a long right tail. The log-logistic distribution is often employed in survival analysis and economics. ### Definition: A random variable \(X\) follows a log-logistic distribution if its logarithm, \(\log(X)\), follows a logistic distribution.