Open AccessMarshll–Olkin Extended Inverse Pareto Distribution and its Application
Author(s) -
M. Gharib,
B. I. Mohammed,
W-E-R Aghel
Publication year - 2017
Publication title -
international journal of statistics and probability
Language(s) - English
Resource type - Journals
eISSN - 1927-7040
pISSN - 1927-7032
DOI - 10.5539/ijsp.v6n6p71
Subject(s) - generalized pareto distribution , mathematics , extension (predicate logic) , pareto principle , inverse , pareto distribution , maximum likelihood , order statistic , reliability (semiconductor) , pareto interpolation , lomax distribution , statistics , mathematical optimization , computer science , extreme value theory , power (physics) , physics , geometry , quantum mechanics , programming language
This paper introduces a new extension of the Inverse Pareto distribution along with in the framework of Marshal-Olkin (1997) family of distributions. This model is capable of modeling various shapes of aging and failure criteria. The statistical properties of the new model are discussed and the maximum likelihood and maximum product spacing’s methods are used to estimate the parameters involved. Explicit expressions are derived for the moments and the order statistics are examined for the new proposed model. Finally, the usefulness of the new model for modeling reliability data is illustrated using two real data sets with simulation study.