Abstract
The current paper presented new two-parameter life processes distribution, the Marshall-Olkin Pranav (MOEP) distribution. This study combines the Marshall-Olkin method with the Pranav distribution to produce a more accessible and flexible model used to perform data survival techniques. Some of its critical statistical features are presented in this study. For instance, we mentioned its survival , hazard, reversed hazard, and cumulative hazard rate function. Then we discussed its Moment generating functions, The characteristic function, Incomplete moments, R`enyi and Entropies, and stochastic orderings. The research utilized maximization of chance in estimating parameters. These tests are done through simulations to achieve the desired results. After its attainment, real-life data was used to test the new model, which possesses the best goodness of fit.
Publisher
Pakistan Journal of Statistics and Operation Research
Subject
Management Science and Operations Research,Statistics, Probability and Uncertainty,Modeling and Simulation,Statistics and Probability