Kumaraswamy Generalized Power Lomax Distributionand Its Applications

Vasili B.V. Nagarjuna, R. Vishnu Vardhan and Christophe Chesneau
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Vasili B.V. Nagarjuna: Department of Statistics, Pondicherry University, Pondicherry 605 014, India
R. Vishnu Vardhan: Department of Statistics, Pondicherry University, Pondicherry 605 014, India
Christophe Chesneau: Department of Mathematics, LMNO, Université de Caen, Campus II, Science 3, 14032 Caen, France

Stats, 2021, vol. 4, issue 1, 1-18

Abstract: In this paper, a new five-parameter distribution is proposed using the functionalities of the Kumaraswamy generalized family of distributions and the features of the power Lomax distribution. It is named as Kumaraswamy generalized power Lomax distribution. In a first approach, we derive its main probability and reliability functions, with a visualization of its modeling behavior by considering different parameter combinations. As prime quality, the corresponding hazard rate function is very flexible; it possesses decreasing, increasing and inverted (upside-down) bathtub shapes. Also, decreasing-increasing-decreasing shapes are nicely observed. Some important characteristics of the Kumaraswamy generalized power Lomax distribution are derived, including moments, entropy measures and order statistics. The second approach is statistical. The maximum likelihood estimates of the parameters are described and a brief simulation study shows their effectiveness. Two real data sets are taken to show how the proposed distribution can be applied concretely; parameter estimates are obtained and fitting comparisons are performed with other well-established Lomax based distributions. The Kumaraswamy generalized power Lomax distribution turns out to be best by capturing fine details in the structure of the data considered.

Keywords: kumaraswamy generalized distribution; moments; order statistics; lomax distribution; power lomax distribution (search for similar items in EconPapers)
JEL-codes: C1 C10 C11 C14 C15 C16 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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