1. Marshall–Olkin Alpha Power Lomax Distribution: Estimation Methods, Applications on Physics and Economics
- Author
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Ehab M. Almetwally, Amaal El sayed Mubarak, and Hisham Mohamed Almongy
- Subjects
Statistics and Probability ,Modeling and Simulation ,Applied mathematics ,Lomax distribution ,Management Science and Operations Research ,Statistics, Probability and Uncertainty ,Estimation methods ,Alpha power ,Mathematics - Abstract
In this paper, we introduce and study a new extension of Lomax distribution with four-parameter named as the Marshall–Olkin alpha power Lomax (MOAPL) distribution. Some statistical properties of this distribution are discussed. Maximum likelihood estimation (MLE), maximum product spacing (MPS) and least Square (LS) method for the MOAPL distribution parameters are discussed. A numerical study using real data analysis and Monte-Carlo simulation are performed to compare between different methods of estimation. Superiority of the new model over some well-known distributions are illustrated by physics and economics real data sets. The MOAPL model can produce better fits than some well-known distributions as Marshall–Olkin Lomax, alpha power Lomax, Lomax distribution, Marshall–Olkin alpha power exponential, Kumaraswamy-generalized Lomax, exponentiated Lomax and power Lomax.
- Published
- 2021
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