Author(s):
1. Muhammad Saqib:
College of Statistical and Actuarial Sciences, University of the Punjab,Lahore,Pakistan
2. Ahmed Zogo Memon:
College of Statistical and Actuarial Sciences, University of the Punjab,Lahore,Pakistan
3. Sohail Chand:
College of Statistical and Actuarial Sciences, University of the Punjab,Lahore,Pakistan
Abstract:
The probability model 'Power Lomax Geometric Distribution' proposed in this paper is derived from Power Lomax distribution through its compounding with the Geometric distribution. We present its various theoretical properties including hazard function, mean residual life and entropy. The family of this distribution constitutes heterogeneous characteristics, and is so classified into three distinguishable subfamilies. Each subfamily is unique in its importance with respect to theoretical and practical applications. The ML method is used for the estimation of four parameters of this distribution. To assess its adequacy we consider four real life data sets comparing it with other fitted models in literature. The model is flexible in its applicability to a large number of different situations.
Page(s):
175-194
DOI:
DOI not available
Published:
Journal: Pakistan Journal of Statistics, Volume: 39, Issue: 2, Year: 2023
Keywords:
Characterization
,
Mean residual life
,
Hazard function
,
Shannon entropy
References:
References are not available for this document.
Citations
Citations are not available for this document.