Statistical Inference of Odd Fréchet Inverse Lomax Distribution with Applications

Abstract

In this article, we propose and study a new three-parameter distribution, called the odd Fréchet inverse Lomax (OFIL) distribution, derived by combining the odd Fréchet-G family and the inverse Lomax distribution. Since Fréchet is a continuous distribution with wide applicability in extreme value theory, the new model contains these properties as well as the characteristics of the inverse Lomax distribution which make it more flexible and provide a good alternative for some well-known lifetime distributions. We initially present a linear representation of its functions and discussion on density and hazard rate function. Then, we study its various mathematical properties. Different estimation methods are used to estimate parameters of OFIL. The Monte Carlo simulation study is carried out to compare the efficiencies of different methods of estimation. The maximum likelihood estimation (MLE) method is used to estimate the OFIL parameters by considering three practical data applications. We show that the related model is the best in comparisons based on Akaike information criterion (AIC), Bayesian information criterion (BIC), and other goodness-of-fit measures.

A novel extension of half-logistic distribution with statistical inference, estimation and applications

“…The OF-G family is used to broaden the scope of the baseline distribution applicability in modeling different types of datasets. Utilising the OF-G approach, ZeinEldin et al 18 offered a novel generalisation of the inverse Lomax model, Elgarhy and Alrajhi 19 investigated the distributional characteristics and applications of odd Frechet Inverse Rayleigh model, odd Frechet inverse exponential model was studied by Alrajhi 20 , odd Frechet inverse weibull model using OF-G scheme was suggested by Fayomi 21 and Ahsan ul Haq et al 22 proposed odd Frechet power function distribution.…”

Inference of Truncated Lomax Inverse Lomax Distribution with Applications

“…Maxwell et al [9] introduced the Marshall-Olkin IL distribution. ZeinEldin et al [10] introduced odd Fréchet IL distribution. Hassan et al [11] proposed Topp-Leone IL distribution.…”

Corrigendum to “Statistical Inference of Odd Fréchet Inverse Lomax Distribution with Applications”

“…In the article titled "Statistical Inference of Odd Fréchet Inverse Lomax Distribution with Applications" [1], there was an error in the grant number.…”