Abstract
This manuscript aims to study the intervention-based probability model. Statistical and reliability properties such as the expressions for, cumulative density function (CDF), mean deviations about mean and median, rth order central and non-central moments, ”generation functions” for moments have been derived. Moreover, the expression for reliability function, hazard rate, reverse hazard rate, aging intensity, mean residual life function, stress-strength reliability, and entropy metrics due to R´enyi and Shannon are also derived. Monte Carlo simulation study performance of maximum likelihood estimates (MLEs) has been carried out, followed by calculations of Average Bias (ABias), and Mean Square Error (MSE). The applicability of the model in real-life situations has been discussed by analyzing the two real-life data sets.
Highlights
In reliability and survival analysis, the lifetime of the system or an individual is viewed as, an essential characteristic
The most popular and frequently used distribution among all continuous distributions is considered Exponential distribution having a cluster of applications in reliability theory, survival analysis, engineering sciences, economics, physics, business statistics etc
We introduced intervened Exponential distribution (IvED) as a lifetime model in reliability and survival analysis
Summary
In reliability and survival analysis, the lifetime of the system or an individual is viewed as, an essential characteristic. The recent developments in distribution theory, in the form of discrete intervened probability models motivated us to explore the continuous lifetime intervened model. In this connection, we have attempted to study the new extension of Exponential distribution namely intervened Exponential distribution developed by Shanmugam et al (2002), and have given a nice explanation of the intervention parameter (ρ) used in the model. We have attempted to study the new extension of Exponential distribution namely intervened Exponential distribution developed by Shanmugam et al (2002), and have given a nice explanation of the intervention parameter (ρ) used in the model It is quite visible from the graphical plots the pdf is exhibiting different shapes while changing the parametric values
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