Inference and Applications of Truncated Inverse Lindley Distribution

Abstract

In this work, the truncated version of Inverse Lindley Distribution has been introduced. Different statistical properties such as survival, hazard rate, reverse hazard rate, cumulative hazard rate of the new distribution have been derived. Quantile function and Order statistics have also been discussed. Method of Maximum Likelihood estimation have been employed to estimate the unknown parameters. The utility of the model have been illustrated using two real life datasets. It has been shown that the proposed model provides a better fit as compared to other existing models.