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, 2021 (Journal Indexed in SCI Expanded) identifier

  • Publication Type: Article / Article
  • Volume:
  • Publication Date: 2021
  • Doi Number: 10.1080/02664763.2020.1870673
  • Title of Journal : Journal of Applied Statistics

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.