Enhanced Real-Life Data Modeling with the Modified Burr III Odds Ratio–G Distribution

Abstract

In this study, we introduce the modified Burr III Odds Ratio–G distribution, a novel statistical model that integrates the odds ratio concept with the foundational Burr III distribution. The spotlight of our investigation is cast on a key subclass within this innovative framework, designated as the Burr III Scaled Inverse Odds Ratio–G (B-SIOR-G) distribution. By effectively integrating the odds ratio with the Burr III distribution, this model enhances both flexibility and predictive accuracy. We delve into a thorough exploration of this distribution family’s mathematical and statistical properties, spanning hazard rate functions, quantile functions, moments, and additional features. Through rigorous simulation, we affirm the robustness of the B-SIOR-G model. The flexibility and practicality of the B-SIOR-G model are demonstrated through its application to four datasets, highlighting its enhanced efficacy over several well-established distributions.