Abstract:

In this paper, we propose a new generalization of Ramos-Louzada (RL) distribution based on two additional shape parameters. Along with the genesis of its distributional form, the derivation of cumulative density function (cdf), survival and hazard rate functions, the quantile function (qf), moments, moment generating function (mgf), Shannon and Renyi entropies, order statistics and a linear representation of the proposed distribution are inspected. Several estimation methods of the model parameters are discussed throughout two comprehensive simulation studies conducted to compare its performance against some lifetime distributions. Application of a real dataset is presented to illustrate the potentiality of this distribution in line with the simulation studies.

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