A novel alpha power transformed exponential distribution with real-life applications

Ijaz M., Mashwani W. K., Göktaş A., ÜNVAN Y. A.

Journal of Applied Statistics, vol.48, 2021 (SCI-Expanded, Scopus) identifier identifier identifier

  • Publication Type: Article / Article
  • Volume: 48
  • Publication Date: 2021
  • Doi Number: 10.1080/02664763.2020.1870673
  • Journal Name: Journal of Applied Statistics
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, ABI/INFORM, Aerospace Database, Business Source Elite, Business Source Premier, CAB Abstracts, Veterinary Science Database, zbMATH
  • Keywords: TTT plot, order statistics, skewness and Kurtosis, maximum likelihood Method, mean residual life, hazard rate function
  • Ankara Yıldırım Beyazıt University Affiliated: Yes

Abstract

© 2021 Informa UK Limited, trading as Taylor & Francis Group.It has been observed in the literature of probability theory that the existing probability distributions do not provide an adequate fit and fails to model the lifetime data having a non-monotonic hazard rate shapes. To cover this gap, researchers are working in the modifications of these distributions. In this paper, a new family of probability distributions is introduced called New Alpha Power Transformed Family (NAPT) of distributions. We derive a special case of NAPT by employing the Exponential distribution called New Alpha Power Transformed Exponential (NAPTE) distribution. NAPTE leads to a flexible fit than other distributions while modeling the lifetime data in both monotonic and non-monotonic hazard rate shapes. The paper presents a simulation study to delineate the performance of the parameters. To illustrate the usefulness of NAPTE, two real-life data sets have been used. From the results it is evident that NAPTE leads to a preferable fit than Weibull, Exponential, Rayleigh, and the Weibull Exponential distribution.