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On Weibull-Pareto Distribution in Censored and Uncensored Data Structures

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  • Kamil Alakuş

    (19 Mayis University, Faculty of Arts and Sciences, Department of Statistics, Samsun, Turkey)

  • Necati Alp Erilli

    (1Sivas Cumhuriyet University, Faculty of Economics and Administrative Sciences, Department of Econometrics, Sivas, Turkey)

Abstract

The Weibull distribution gives a flexible measurement that details the probability distribution associated with the lifetime characteristics of a particular part or service component. It is commonly used to assess product reliability, analyze life data, and model failure times. It is a versatile distribution that can take on the characteristics of other types of distributions, based on the value of the shape parameter. Weibull-Pareto distribution has been introduced as a new type of application of the Weibull distribution. In this article, it is investigated point and interval estimation for Weibull-Pareto distribution with censored and uncensored data. With real-time data applications, it is showed that Weibull-Pareto results are clearly better against Exponential, Gamma, and Weibull distributions results.

Suggested Citation

  • Kamil Alakuş & Necati Alp Erilli, 2020. "On Weibull-Pareto Distribution in Censored and Uncensored Data Structures," EKOIST Journal of Econometrics and Statistics, Istanbul University, Faculty of Economics, vol. 0(33), pages 1-11, December.
    • Handle: RePEc:ist:ekoist:v:0:y:2020:i:33:p:1-11
    DOI: 10.26650/ekoist.2020.33.810417
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