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Properties, Inference and Applications of Alpha Power Extended Inverted Weibull Distribution

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  • A. A. Ogunde
  • S. T. Fayose
  • B. Ajayi
  • D. O. Omosigho

Abstract

In this work, we introduce a new generalization of the Inverted Weibull distribution called the alpha power Extended Inverted Weibull distribution using the alpha power transformation method. This approach adds an extra parameter to the baseline distribution. The statistical properties of this distribution including the mean, variance, coefficient of variation, quantile function, median, ordinary and incomplete moments, skewness, kurtosis, moment and moment generating functions, reliability analysis, Lorenz and Bonferroni and curves, Rényi of entropy and order statistics are studied. We consider the method of maximum likelihood for estimating the model parameters and the observed information matrix is derived. Simulation method and three real life data sets are presented to demonstrate the effectiveness of the new model.

Suggested Citation

  • A. A. Ogunde & S. T. Fayose & B. Ajayi & D. O. Omosigho, 2020. "Properties, Inference and Applications of Alpha Power Extended Inverted Weibull Distribution," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 9(6), pages 1-90, November.
    • Handle: RePEc:ibn:ijspjl:v:9:y:2020:i:6:p:90
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    References listed on IDEAS

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    5. M. Nassar & A. Alzaatreh & M. Mead & O. Abo-Kasem, 2017. "Alpha power Weibull distribution: Properties and applications," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 46(20), pages 10236-10252, October.
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    Cited by:

    1. Jemilohun Vincent Gbenga & Ipinyomi Reuben Adeyemi, 2022. "Alpha Power Extended Inverse Weibull Poisson Distribution: Properties, Inference, and Applications to lifetime data," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 11(1), pages 1-10, March.

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    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
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