THE WEIBULL-MOMENT EXPONENTIAL DISTRIBUTION: PROPERTIES, CHARACTERIZATIONS AND APPLICATIONS

  • Sharqa Hashmi Department of Statistics, Lahore College for Women University, Pakistan
  • Muhammad Ahsan Ul Haq Quality Enhancement Cell, National College of Arts, Lahore, Pakistan College of Statistical & Actuarial Sciences, University of the Punjab, Pakistan
  • Rana Muhammad Usman College of Statistical & Actuarial Sciences, University of the Punjab, Pakistan
  • Gamze Ozel Department of Statistics, Hacettepe University, Turkey
Keywords: Moment Exponential, Moments, Order Statistics, Maximum Likelihood

Abstract

In this article, another three-parameter Weibull moment exponential (WME) distribution is derived and studied. The proposed distribution is more flexible because of various different shapes of hazard rate function including monotone and non-monotone. Mathematical properties of the WME model are derived such as moments, m.g.f, quantile function, and Rényi entropy. The pdf’s of its order statistics are also obtained. Characterizations on two aspects are also presented including the ratio of truncated moments and hazard rate function. Model parameters are estimated by the method of maximum likelihood. Monte Carlo simulations are used to show the consistency of parameters. Some real data applications are given to illustrate the flexibility of the proposed distribution among other competitive models. It may be concluded that the proposed model is entirely adaptable for lifetime datasets with either monotone or nonmonotone shape of hazard rate function.

 

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Published
2018-12-29
Section
Articles