Mixture of Akash Distributions: Estimation, Simulation and Application

Abstract

In this paper, we propose a two-component mixture of Akash model (TC-MAM). The behavior of TC-MAM distribution has been presented graphically. Moment-based measures, including skewness, index of dispersion, kurtosis, and coefficient of variation, have been determined and hazard rate functions are presented graphically. The probability generating function, Mills ratio, characteristic function, cumulants, mean time to failure, and factorial moment generating function are all statistical aspects of the mixed model that we explore. Furthermore, we figure out the relevant parameters of the mixture model using the most suitable methods, such as least square, weighted least square, and maximum likelihood mechanisms. Findings of simulation experiments to examine behavior of these estimates are graphically presented. Finally, a set of data taken from the real world is examined in order to demonstrate the new model’s practical perspectives. All of the metrics evaluated favor the new model and the superiority of proposed distribution over mixture of Lindley, Shanker, and exponential distributions.