Odd Log-Logistic Modified Weibull Distribution
2017
We introduce and study a new distribution called the odd log-logistic modified Weibull (OLLMW) distribution. Various of its structural properties are obtained in terms of Meijer’s G-function, such as the moments, generating function, conditional moments, mean deviations, order statistics and maximum likelihood estimators. The distribution exhibits a wide range of shapes varying skewness and takes all possible forms of hazard rate function. We fit the OLLMW and some competitive models to two data sets and prove empirically that the new model has a superior performance among the compared distributions as evidenced by some goodness-of-fit statistics.
Keywords:
- Econometrics
- Scaled inverse chi-squared distribution
- Weibull distribution
- Log-logistic distribution
- Noncentral chi-squared distribution
- Log-Cauchy distribution
- Statistics
- Mathematics
- Exponentiated Weibull distribution
- Normal-gamma distribution
- Uniform distribution (continuous)
- Beta-binomial distribution
- Applied mathematics
- Skew normal distribution
- Asymptotic distribution
- Mathematical analysis
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