On a Generalization of Marshall-Olkin Weibull Distribution and its Applications
Generalization of Marshall-Olkin Weibull Distribution
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Autoregressive Model, Hazard Rate, Marshall-Olkin Method, Maximum Likelihood Estimate, Minification Process, Order Statistics, Renyi Entropy, Shannon EntropyAbstract
In this article, a new generalized four parameter distribution called Marshall- Olkin Weibull Truncated Negative Binomial (MOWTNB) distribution is introduced and studied. Various structural properties of the new distribution are obtained. The distribution of order statistics is also derived. The method of maximum likelihood for estimating the model parameters is discussed. Applications to two real data sets are provided to show the flexibility and potentiality of the new distribution. We have compared the performance of MOWTNB with ten other competitive models, for modelling the two data sets and showed that MOWTNB performs better compared to these existing models. An AR(1) minification model with this distribution as marginal is developed.