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6. PERFORMANCE RATING ON FOUR-PARAMETER ODD GENERALIZED EXPONENTIAL-PARETO DISTRIBUTION by Jamila Abdullahi and Abubakar Yahaya Volume 50 (March, 2019 Issue)
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PERFORMANCE RATING ON FOUR-PARAMETER ODD GENERALIZED  EXPONENTIAL-PARETO DISTRIBUTION

Jamila Abdullahi and Abubakar Yahaya

Department of Statistics, Ahmadu Bello University, Zaria-Nigeria.

Abstract 

The Pareto Distribution has received some sizeable attention in the academia especially by adding some elements of flexibility to it through introduction of one or more parameter using some generalization approaches. It plays a vital role in analyzing skewed dataset especially in reliability analysis. In this article, we propose a four-parameter Odd Generalized Exponential-Pareto (OGE-P) distribution. Some statistical properties comprising survival function, hazard function, distribution of order statistics and limiting behaviour of the new distribution were derived. We also provide plots of the CDF, PDF, survival function and hazard function for various values of distribution parameters. The plots for the PDF indicated that it is positively skewed and therefore more appropriate for fitting positively skewed datasets. The parameters of the distribution were estimated using method of maximum likelihood. Finally, the proposed distribution is applied to two real datasets to illustrate its fit as compared to other distributions. 

Keywords: Pareto distribution, order statistics, limiting behavior, survival function and hazard function.

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