NEW GENERALIZED ODD FRÉCHET-ODD EXPONENTIAL-G FAMILY OF DISTRIBUTION WITH STATISTICAL PROPERTIES AND APPLICATIONS
Abstract
A new lifetime continuous probability distribution called the new Generalized Odd Fréchet-Odd-Exponential-G Family of Distribution is developed using the principle of Alzaatreh. The developed distribution is flexible for studying positive real-life datasets. The statistical properties related to this family are obtained. The parameters of the family were estimated by using a technique of maximum likelihood. A NewGeneralized Odd Fréchet-Odd-Exponential-Weibull model is introduced. This distribution was fitted with a set of lifetime data. A Monte Carlo simulation is applied to test the consistency of the estimated parameters of this distribution in terms of their bias and mean squared error with a comparison of M.L.E and the maximum product spacing (MPS).The outcome of the Monte Carlo simulation shows that the M.L.E method is the best technique for estimating the parameter of the New Generalized Odd Frechet-Odd-Exponential-Weibull distribution and the New Generalized Odd Frechet-Odd-Exponential-Rayleigh distribution than the M.PS method. The outcomes of the application on the data set produce a higher flexibility than some of the competing distributions. The distributions serve as a viable alternative to other distributions available in the literature for modelling positive data.
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