A new finite range increasing generalized failure rate distribution and it’s applications

Abstract

Here we introduce a bounded distribution, bounded by 0 and 1, that has unimodal density function. The distribution function as well as the hazard rate function of the model have closed forms. Structural properties and asymptotic behavior of the distribution are studied and obtained a characterization. Moreover, the distribution is an increasing generalized failure rate distribution and is capable of modeling data with increasing and bathtub failure rates. Two real data sets are analyzed and it is shown that the proposed model fits better than some of the existing models.

Keywords:

• Bathtub hazard rate
• Increasing generalized Failure rate
• Truncated moments
• Unimodal

Acknowledgments

The authors wish to thank the Editor-in-Chief, Associate Editor, and the Reviewers for their critical comments that substantially improved the presentation of the article.

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

The first author wishes to thank the University Grants Commission, New Delhi, India for the financial assistance in the form of Senior Research Fellowship.