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Alpha Power Extended Inverse Weibull Poisson Distribution: Properties, Inference, and Applications to lifetime data

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  • Jemilohun Vincent Gbenga
  • Ipinyomi Reuben Adeyemi

Abstract

In this paper, a new four-parameter extended inverse Weibull distribution called Alpha power Extended Inverse Weibull Poisson distribution is introduced using the alpha power Poisson generator. This method adds two shape parameters to a baseline distribution thereby increasing its flexibility and applicability in modeling lifetime data. We study the structural properties of the new distribution such as the mean, variance, quantile function, median, ordinary and incomplete moments, reliability analysis, Lorenz and Bonferroni curves, Renyi entropy, mean waiting time, mean residual life, and order statistics. We use the method of maximum likelihood technique for estimating the model parameters of Alpha power extended inverse Weibull distribution and the corresponding confidence intervals are obtained. The simulation method is carried out to evaluate the performance of the maximum likelihood estimate in terms of their Absolute Bias and Mean Square Error using simulated data. Two lifetime data sets are presented to demonstrate the applicability of the new model and it is found that the new model has superior modeling power when compare to Inverse Weibull distribution, Alpha Power Poisson inverse exponential distribution, Alpha Power Extended Inverse Weibull distribution, and Alpha Power Extended Inverse Exponential distribution.

Suggested Citation

  • Jemilohun Vincent Gbenga & Ipinyomi Reuben Adeyemi, 2022. "Alpha Power Extended Inverse Weibull Poisson Distribution: Properties, Inference, and Applications to lifetime data," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 11(1), pages 1-10, March.
    • Handle: RePEc:ibn:ijspjl:v:11:y:2022:i:1:p:10
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    References listed on IDEAS

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    1. Abbas Mahdavi & Debasis Kundu, 2017. "A new method for generating distributions with an application to exponential distribution," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 46(13), pages 6543-6557, July.
    2. M. Nassar & A. Alzaatreh & M. Mead & O. Abo-Kasem, 2017. "Alpha power Weibull distribution: Properties and applications," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 46(20), pages 10236-10252, October.
    3. A. A. Ogunde & S. T. Fayose & B. Ajayi & D. O. Omosigho, 2020. "Properties, Inference and Applications of Alpha Power Extended Inverted Weibull Distribution," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 9(6), pages 1-90, November.
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    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
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