Properties, Inference and Applications of Alpha Power Extended Inverted Weibull Distribution
A. A. Ogunde,
S. T. Fayose,
B. Ajayi and
D. O. Omosigho
International Journal of Statistics and Probability, 2020, vol. 9, issue 6, 90
Abstract:
In this work, we introduce a new generalization of the Inverted Weibull distribution called the alpha power Extended Inverted Weibull distribution using the alpha power transformation method. This approach adds an extra parameter to the baseline distribution. The statistical properties of this distribution including the mean, variance, coefficient of variation, quantile function, median, ordinary and incomplete moments, skewness, kurtosis, moment and moment generating functions, reliability analysis, Lorenz and Bonferroni and curves, Rényi of entropy and order statistics are studied. We consider the method of maximum likelihood for estimating the model parameters and the observed information matrix is derived. Simulation method and three real life data sets are presented to demonstrate the effectiveness of the new model.
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ibn:ijspjl:v:9:y:2020:i:6:p:90
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