Fractions appear everywhere in daily routine due to being a convenient way to depict quantities without using units. The area of application is immense. Only a few of many examples would be: the survivals of a mice population exposed to toxic substances, manifestation of a genetic aberration, market share of a firm, proportion of debt in a financing plan and so on. All these situations are expressed in ratios. Since such variables are limited to the unit interval, their description can be done by various statistical distributions. However one major problem, which makes estimation nearly...