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Statistical Properties of a New Bathtub Shaped Failure Rate Model With Applications in Survival and Failure Rate Data

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Listed:
  • Muhammad Z. Arshad
  • Muhammad Z. Iqbal
  • Alya Al Mutairi

Abstract

In this study, we proposed a flexible lifetime model identified as the modified exponentiated Kumaraswamy (MEK) distribution. Some distributional and reliability properties were derived and discussed, including explicit expressions for the moments, quantile function, and order statistics. We discussed all the possible shapes of the density and the failure rate functions. We utilized the method of maximum likelihood to estimate the unknown parameters of the MEK distribution and executed a simulation study to assess the asymptotic behavior of the MLEs. Four suitable lifetime data sets we engaged and modeled, to disclose the usefulness and the dominance of the MEK distribution over its participant models.

Suggested Citation

  • Muhammad Z. Arshad & Muhammad Z. Iqbal & Alya Al Mutairi, 2021. "Statistical Properties of a New Bathtub Shaped Failure Rate Model With Applications in Survival and Failure Rate Data," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 10(3), pages 1-49, June.
    • Handle: RePEc:ibn:ijspjl:v:10:y:2021:i:3:p:49
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    References listed on IDEAS

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    1. James B. McDonald, 2008. "Some Generalized Functions for the Size Distribution of Income," Economic Studies in Inequality, Social Exclusion, and Well-Being, in: Duangkamon Chotikapanich (ed.), Modeling Income Distributions and Lorenz Curves, chapter 3, pages 37-55, Springer.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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