A NEW LIFETIME DISTRIBUTION FOR MODELING MONOTONIC DECREASING SURVIVAL PATTERNS
One parameter inverse size biased p-dimensional Rayleigh distribution (ISBRD) is introduced for modeling lifetimes. Its distributional properties including moments are studied. Hazard function is studied under different parametric settings. Parameter estimation is done using maximum likelihood method and Bayesian approach. The risks of Bayes estimators have been obtained under different loss structures and a comparative risk analysis has been conducted empirically. Findings of simulation study are presented.