Modified Lomax Distribution: Properties and Applications

Abstract

Here, a new distribution having three called Modified Lomax Distribution is proposed. Some important statistical properties of the introduced distribution are explained ere. The Least Square method of Estimation (LSE), Cramer-Von Mises method of estimation (CVM) and Maximum Likelihood method (MLE) methods are used for estimation of the parameter using R programming software. A data set is discussed and performed the goodness-of-fit to assess the application of the proposed distribution. Various methods of model comparison and model validation are also used. The proposed model called Modified Lomax Distribution is better than some earlier defined probability model.