DEVELOPMENT OF A TRANSMUTED LOMAX GAMMA DISTRIBUTION AND APPLICATION
Abstract
New families of continuous probability distributions have been introduced; the so-called Development of Transmuted Lomax Gamma Distribution application and its properties were proposed and studied. Various structural properties, including explicit expressions for the moments, quantile functions, order statistics, survival functions, hazard functions, and estimations of new distributions were derived. The performances of the maximum -likelihood estimates of the parameters of the Transmuted Lomax Gamma family were evaluated through a simulation study. After applying the new distribution to real data, we compared its performance to that of other competing distributions and found that the Transmuted Lomax Gamma distribution performed better when using BIC, AIC, and CAIC. Furthermore, we also concluded that the distribution can be used to model highly skewed data (skewed to the right).
Keywords:
Development of Transmuted Lomax Gamma distribution, hazard function, survival function, moment generating function, quantile function, order statistics, rani and entropy.Downloads
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Copyright (c) 2024 Dr. Abubakar M.A, Dufaylu Umar Musa, Dr. Bilkisu Maijama’a , Dr. N. O. Nweze
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