A NEW INVERSE TWO-PARAMETER LINDLEY DISTRIBUTION AND ITS APPLICATION
Abstract
This paper proposes an inverse two-parameter Lindley distribution by utilizing the one and two parameter Lindley distributions. The key properties of the novel distribution like, its survival function, shape characteristics of the density, entropy measure, hazard rate function, stochastic ordering and stress-strength reliability were examined. Two data sets were employed in the empirical studies. Method of maximum likelihood was used to estimate the parameters. The goodness- of -fit was accessed using the HQIC, BIC, CAIC, and AIC. The proposed distribution was compared with the inverse Lindley and the inverse Akash distributions in order to access its superiority over the two distributions. Ultimately, the new inverse two parameter Lindley distribution was found to be superior by providing a better fit.
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