| Abstrakt: |
In this work, a novel bounded three-parameter power Lomax distribution termed the unit power Lomax(UPLoD) is presented. The UPLoD is capable of handling data with left and right skewed shapes according to its probability density function. Additionally, according to the hazard rate function, the distribution may be used to analyse data containing J-shaped hazard rates. It is possible to determine some of the distribution's mathematical characteristics like moments, probability-weighted moments, incomplete moments, residual and reversed residual life, quantile function, stress strength model, and entropy (Rényi, Havrda and Charvát, Tsallis, and Arimoto) measures. The Cramér-von Mises, weighted least squares, maximum likelihood, Anderson-Darling, maximum product of spacing, and least squares approaches are among the conventional estimating techniques that are taken into account. The performance of the resulting estimates is compared using a Monte Carlo simulation based on some precision metrics. An actual data application is presented using water capacity data, and data about the Susquehanna River's maximum flood levels to show the importance of the new distribution compared to several other known distributions. [ABSTRACT FROM AUTHOR] |
