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A New Compound Lifetime Distribution: Ishita Power Series Distribution with Properties and Applications |
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PP: 883-896 |
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doi:10.18576/jsap/100324
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Author(s) |
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Anwar Hassan,
Nazima Akhtar,
Adil Rashid,
Arsheed Iqbal,
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Abstract |
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| In this paper, we explore a new family of models for lifetime data called Ishita Power Series family of distributions by compounding a lifetime distribution called Ishita distribution and Power Series distribution. The proposed model has special cases of several lifetime distributions that are very flexible to fit different types of data sets. It is pertinent to mention that the probability density function and hazard rate can take up different forms such as increasing, decreasing and upside down bathtub shapes which are shown through graphs. Some mathematical properties like; moments, moment generating function and order statistics of the new class of distribution have been discussed. The model parameters are estimated through MLE technique. Finally, the potentiality of the proposed model has been tested on two real life data sets and it is clear from the statistical analysis that the proposed model offers a better fit.
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