Generalized Beta-G family of distributions proposed has alternative distributions to unbounded distributions for modeling price returns. In contrast to Gaussian and other unbounded distributions that take values from (−∞,∞) , Generalized Beta-G family of distributions takes values from [0,∞) so as to properly contain only positive valued observations like that of price returns. In line with this, Nine (9) befitting candidates of the Generalized Beta-G family of distributions were proposed and subjected to monthly prices of cereals. Chen distributional random noise outstripped other candidates of the Generalized Beta-G family of distributions to produce minimum monthly standard deviations of 0.2686 (26.86%), 0.2572 (25.72%), 0.2404 (24.40%), 0.2267 (22.67%), 0.2257 (22.57%), 0.2544 (25.44%), 0.2343 (23.43%), 0.2391 (23.91%), 0.2273 (22.73%) and 0.2465 (24.65%) for prices of Rice, Maize, Sorghum, Millet, G-corn, Cowpea, Groundnut, Beans, Wheat and Cassava respectively. Chen and Loglogistic distributional random noises are the leading candidates among the Generalized Beta-G family of distributions in modelling price returns of the cereals, followed by Fréchet, Weibull and Birnbaum- Saunders random noises in order of significant. Lomax and Linear Failure Rate (LFR) are the ineffective random noises in modeling the price returns.
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