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Lomax exponential distribution with an application to real-life data

Author

Listed:
  • Muhammad Ijaz
  • Syed Muhammad Asim
  • Alamgir

Abstract

In this paper, a new modification of the Lomax distribution is considered named as Lomax exponential distribution (LE). The proposed distribution is quite flexible in modeling the lifetime data with both decreasing and increasing shapes (non-monotonic). We derive the explicit expressions for the incomplete moments, quantile function, the density function for the order statistics etc. The Renyi entropy for the proposed distribution is also obtained. Moreover, the paper discusses the estimates of the parameters by the usual maximum likelihood estimation method along with determining the information matrix. In addition, the potentiality of the proposed distribution is illustrated using two real data sets. To judge the performance of the model, the goodness of fit measures, AIC, CAIC, BIC, and HQIC are used. Form the results it is concluded that the proposed model performs better than the Lomax distribution, Weibull Lomax distribution, and exponential Lomax distribution.

Suggested Citation

  • Muhammad Ijaz & Syed Muhammad Asim & Alamgir, 2019. "Lomax exponential distribution with an application to real-life data," PLOS ONE, Public Library of Science, vol. 14(12), pages 1-16, December.
    • Handle: RePEc:plo:pone00:0225827
    DOI: 10.1371/journal.pone.0225827
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    Cited by:

    1. Ahtasham Gul & Muhammad Mohsin & Muhammad Adil & Mansoor Ali, 2021. "A modified truncated distribution for modeling the heavy tail, engineering and environmental sciences data," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-24, April.

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