A New Weibull-Pareto Distribution

Abstract

In this article, a new Weibull-Pareto distribution based on the quantile of log-logistic distribution is defined and studied. Various properties of the distribution are discussed. The distribution is found to be unimodal or bimodal and it can be skewed to the right or skewed to the left. The relationships between the parameters and the mean, variance, skewness, and kurtosis are discussed. The expressions for the moments, mean deviation, and entropy are obtained. The method of maximum likelihood is proposed to estimate the parameters of the distribution. Two real data sets are applied to illustrate the flexibility of the distribution.

Keywords:

• Hazard function
• Beta-family
• Moments
• Entropy

Mathematics Subject Classification:

• 62E15
• 62F10
• 62P10

View correction statement:

Correction to: Aljarrah, M.A., Famoye, F. and Lee, C. (2015). A New Weibull-Pareto distribution. Communications in Statistics - Theory and Methods, 44:19, 4077-4095