A notable bounded probability distribution for environmental and lifetime data

Abstract

AbstractIn this article, we introduce a notable bounded distribution based on a modification of the epsilon function that creates an upper bound on the domain of a distribution. Further, a key feature of the distribution is to have asymptotic connections with the famous Lindley distribution, which is a weighted variant of the exponential distribution and also a mixture of exponential and gamma distributions. In some ways, the proposed distribution provides a flexible solution to the modeling of bounded characteristics that can be almost well-fitted by the Lindley distribution if the domain is restricted. Moreover, we have also explored its application, particularly with reference to lifetime and environmental points of view, and found that the proposed model exhibits a better fit among the competing models. Namely, we demonstrate the practical applicability of the new distribution on two data sets containing lifetime data, as well as on two other data sets of rainfall data. Further, from the annual rainfall analysis, the proposed model exhibits a realistic return period of the rainfall.