A New Method of Proposing Distribution and Its Application to Real Data

Abstract

In this paper we develop a method for proposing new lifetime distribution which is parsimonious in parameter and also adds more flexibility in baseline distribution. Here one parameter exponential distribution has been taken here as baseline distribution. Here also derive the shape of the distribution mathematically, stochastic ordering and various statistical properties of like moments, conditional moments, mean deviation about mean and median, quantile, moment generating function, characteristics function, cumulant generating function, entropies and order statistics have been discussed. The method of moments and maximum likelihood estimation are used to obtain the estimate of the unknown parameter. At last, a real data set has been analyzed to show how the proposed models utilize in the practical situation.