A generalization of the Inverse Weibull model: Properties and applications

A new flexible extension of the Inverse Weibull distribution is proposed and studied. The new density can be “right skewed”, “left skewed” and “unimodal” with various shapes, the new failure rate function can be a “decreasing” or “upside down” or “increasing” shaped. Some of its statistical properties are derived. The importance of the new distribution is shown via three applications to real data sets. The new distribution is better fit than many important competitive models based on three real data sets.