A Study on Properties and Applications of a Lomax Gompertz-Makeham Distribution

Abstract

The article presents an extension of the Gompertz-Makeham distribution using the Lomax generator of probability distributions. This generalization of the Gompertz-Makeham distribution provides a more skewed and flexible compound model called Lomax Gompertz-Makeham distribution. The paper derives and discusses some Mathematical and Statistical properties of the new distribution. The unknown parameters of the new model are estimated via the method of maximum likelihood estimation. In conclusion, the new distribution is applied to two real life datasets together with two other related models to check its flexibility or performance and the results indicate that the proposed extension is more flexible compared to the other two distributions considered in the paper based on the two datasets used.

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“…Due to this families and many others, numerous compound models have been introduced for modeling statistical data and these compound distributions are found to be skewed, flexible and more better in statistical modeling than the standard counterparts ( [8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23]).…”