article · Central European Journal of Economic Modelling and Econometrics
We propose a new extension of the Weibull-exponentiated half logistic-G (WEHL-G) distribution, called the Marshall-Olkin-Weibull-exponentiated half logistic-G (MO-WEHL-G) family of distributions. The properties of this family of distributions including quantile function, distribution of the order statistics, hazard rate function, Rényi entropy and moments of residual life are presented. To estimate the parameters of the MO-WEHL-G family of distributions, six different estimation approaches are used, namely, maximum likelihood, Anderson-Darling, Ordinary Least Squares, Weighted Least Squares, Cramér-von Mises and Maximum Product of Spacing. The consistency properties of the six estimation methods were assessed using Monte Carlo simulations for a special case of the MO-WEHL-G family of distributions. The flexibility and importance of the proposed model was assessed using numerous goodness-of-fit statistics on three different data sets.
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DOI: 10.24425/cejeme.2024.152688
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