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Transmuted Exponentiated Moment Pareto Distribution

DOI: 10.4236/ojs.2018.86063, PP. 939-961

Keywords: Quadratic Rank Transmutation Map (QRTM), Pareto Distribution, Hazard Function, Fractional Moments, Incomplete Moments, Rényi Entropy

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Abstract:

In this work, the authors proposed a four parameter potentiated lifetime model named as Transmuted Exponentiated Moment Pareto (TEMP) distribution and discussed numerous characteristic measures of proposed model. Parameters are estimated by the method of maximum likelihood and performance of these estimates is also assessed by simulations study. Four suitable lifetime datasets are modeled by the TEMP distribution and the results support that the proposed model provides much better results as compared to its sub-models.

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