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Transmuted Exponentiated Moment Pareto Distribution
National College of Business Administration and Economics, Lahore, Pakistan
Department of Mathematics and Statistics, University of Agriculture, Faisalabad, Pakistan
National College of Business Administration and Economics, Lahore, Pakistan
- 1 National College of Business Administration and Economics, Lahore, Pakistan
- 2 Department of Mathematics and Statistics, University of Agriculture, Faisalabad, Pakistan
- 3 National College of Business Administration and Economics, Lahore, Pakistan
Open Journal of Statistics·Volume 08 (2018)·Pages 939–961·Published 14 November 2018·DOI10.4236/ojs.2018.86063
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Abstract
In this work, the authors proposed a four parameter potentiated lifetime model named as Transmuted Exponentiated Moment Pareto (TEMP) distribution and discussed numerous characteristic measures of proposed model. Parameters are estimated by the method of maximum likelihood and performance of these estimates is also assessed by simulations study. Four suitable lifetime datasets are modeled by the TEMP distribution and the results support that the proposed model provides much better results as compared to its sub-models.
KeywordsQuadratic Rank Transmutation Map (QRTM)Pareto DistributionHazard FunctionFractional MomentsIncomplete MomentsRényi Entropy
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