Abstract
A new compound distribution called Burr XII-Weibull-Logarithmic (BWL) distribution is introduced and its properties are explored. This new distribution contains several new and well known sub-models, including Burr XII-Exponential-Logarithmic, Burr XII-Rayleigh-Logarithmic, Burr XII-Logarithmic, Lomax-Exponential-Logarithmic, Lomax–Rayleigh-Logarithmic, Weibull, Rayleigh, Lomax, Lomax-Logarithmic, Weibull-Logarithmic, Rayleigh-Logarithmic, and Exponential-Logarithmic distributions. Some statistical properties of the proposed distribution including moments and conditional moments are presented. Maximum likelihood estimation technique is used to estimate the model parameters. Finally, applications of the model to real data sets are presented to illustrate the usefulness of the proposed distribution.
Highlights
Compound distributions have applications in various fields of study such as economics, engineering, public health, industrial reliability and medicine
New distributions have been developed by compounding well-known continuous distributions such as the exponential, Weibull, and exponentiated exponential distributions with the power series distribution that includes the Poisson, logarithmic, geometric and binomial distributions as particular cases [1,2]
Motivated by various applications of Burr XII, Weibull and logarithmic distributions in several areas including reliability, exponential tilting in finance and actuarial sciences, as well as economics, where Burr XII distribution plays an important role in income, we construct and develop the statistical properties of this new class of generalized Burr XII-Weibull-type distribution called the Burr XII-Weibull-Logarithmic distribution and apply it to real lifetime data in order to demonstrate the usefulness of the proposed distribution
Summary
Compound distributions have applications in various fields of study such as economics, engineering, public health, industrial reliability and medicine. Motivated by various applications of Burr XII, Weibull and logarithmic distributions in several areas including reliability, exponential tilting (weighting) in finance and actuarial sciences, as well as economics, where Burr XII distribution plays an important role in income, we construct and develop the statistical properties of this new class of generalized Burr XII-Weibull-type distribution called the Burr XII-Weibull-Logarithmic distribution and apply it to real lifetime data in order to demonstrate the usefulness of the proposed distribution. In this regard, we propose a new distribution, called the Burr XII-Weibull-Logarithmic ( BW L) distribution.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
