Inforpower: Quantifying the Informational Power of Probability Distributions

In many scientific and engineering fields (e.g., measurement science), a probability density function often models a system comprising a signal embedded in noise. Conventional measures, such as the mean, variance, entropy, and informity, characterize signal strength and uncertainty (or noise level) separately. However, the true performance of a system depends on the interaction between signal and noise. In this paper, we propose a novel measure, called “inforpower”, for quantifying the system’s informational power that explicitly captures the interaction between signal and noise. We also propose a new measure of central tendency, called “information-energy center”. Closed-form expressions for inforpower and information-energy center are provided for ten well known continuous distributions. Moreover, we propose a maximum inforpower criterion, which can complement the Akaike information criterion (AIC), the minimum entropy criterion, and the maximum informity criterion for selecting the best distribution from a set of candidate distributions. Two examples (synthetic Weibull distribution data and Tana River annual maximum streamflow) are presented to demonstrate the effectiveness of the proposed maximum inforpower criterion and compare it with existing goodness-of-fit criteria.