Inverse Lomax-Exponentiated G (IL-EG) Family of Distributions: Properties and Applications
Jamilu Yunusa Falgore *
Department of Statistics, Ahmadu Bello University Zaria, Nigeria
Sani Ibrahim Doguwa
Department of Statistics, Ahmadu Bello University Zaria, Nigeria
*Author to whom correspondence should be addressed.
Abstract
A new generator of continuous distributions called the Inverse Lomax-Exponentiated G family, which has three extra positive parameters is proposed. The structural properties of the new family that holds for any continuous baseline model including explicit density function expressions, moments, inequality measurements, moment generating function, reliability functions, Renyi and Shanon entropies, and distribution of order statistics are derived. A Monte Carlo simulation to test the efficiency of the maximum likelihood estimates is conducted. The application of the new sub-model to the two data sets using the maximum likelihood method indicates that the new model is better than the existing competitors.
Keywords: Inverse Lomax exponentiated uniform distribution, Inverse Lomax exponentiated Weibull distribution, Inverse Lomax-G, Monte Carlo Simulation, Inverse Lomax exponentiated Burr III distribution, Inverse Lomax Exponential G Family