Abstract
We introduce a new model called the Weibull-Lomax distribution which
extends the Lomax distribution and has increasing and decreasing
shapes for the hazard rate function. Various structural properties of the
new distribution are derived including explicit expressions for the moments and incomplete moments, Bonferroni and Lorenz curves, mean
deviations, mean residual life, mean waiting time, probability weighted
moments, generating and quantile function. The Rényi and q entropies
are also obtained. We provide the density function of the order statistics and their moments. The model parameters are estimated by
the method of maximum likelihood and the observed information matrix is determined. The potentiality of the new model is illustrated by
means of two real life data sets. For these data, the new model outperforms the McDonald-Lomax, Kumaraswamy-Lomax, gamma-Lomax,
beta-Lomax, exponentiated Lomax and Lomax models.
References
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Details
| Primary Language | English |
|---|---|
| Subjects | Statistics |
| Journal Section | Statistics |
| Authors | |
| Publication Date | April 1, 2015 |
| Published in Issue | Year 2015 Volume: 44 Issue: 2 |