A Flexible Extension to an Extreme Distribution

The aim of this paper is not only to propose a new extreme distribution, but also to show that the new extreme model can be used as an alternative to well-known distributions in the literature to model various kinds of datasets in different fields. Several of its statistical properties are explored....

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Bibliographic Details
Main Authors: Mohamed S. Eliwa, Fahad Sameer Alshammari, Khadijah M. Abualnaja, Mahmoud El-Morshedy
Format: Article
Language:English
Published: MDPI AG 2021-04-01
Series:Symmetry
Subjects:
Online Access:https://www.mdpi.com/2073-8994/13/5/745
Description
Summary:The aim of this paper is not only to propose a new extreme distribution, but also to show that the new extreme model can be used as an alternative to well-known distributions in the literature to model various kinds of datasets in different fields. Several of its statistical properties are explored. It is found that the new extreme model can be utilized for modeling both asymmetric and symmetric datasets, which suffer from over- and under-dispersed phenomena. Moreover, the hazard rate function can be constant, increasing, increasing–constant, or unimodal shaped. The maximum likelihood method is used to estimate the model parameters based on complete and censored samples. Finally, a significant amount of simulations was conducted along with real data applications to illustrate the use of the new extreme distribution.
ISSN:2073-8994