Inverse Exponentiated Lomax Distribution: Properties and its Application

Abstract

A three-parameter continuous distribution, namely, inverse exponentiated Lomax distribution is proposed. The density function for the new distribution can be right-skewed, reversed-J shaped, unimodel and decreasing hazard rate function. Several properties of this distribution are discussed such as explicit expressions for quantile function, mode, mean residual life time, mean failure of time, and ordinary moments, mean residual life time, mean failure of time and the density function for the some order statistics. The maximum likelihood estimators of the parameters are derived. Simulation study is given to illustrate theoretical results. The flexibility of the new model is illustrated by real data.