ON A NEW MODIFIED INVERSE WEIBULL DISTRIBUTION: STATISTICAL INFERENCE UNDER CENSORED SCHEMES
Keywords:
inverse Weibull distribution, censored schemes, order statistics, Monte Carlo simulation, maximum likelihood estimation.DOI:
https://doi.org/10.17654/0972361722073Abstract
In this article, we investigate a linear system with two components, one of which follows the inverse Weibull (IW) distribution and the other the inverse Rayleigh (IR) distribution, in order to offer a novel modified formulation of the IW model known as the new modified inverse Weibull (NMIW) distribution. The proposed model can represent hazard function (HF) with an upside down bathtub form. A brief discussion of the statistical features of the NMIW distribution is provided, along with parameter estimates using Type-I censored samples (TICS) and Type-II censored samples (TIICS). Maximum likelihood (ML) estimators are created to estimate model parameters. A Monte Carlo simulation study is also performed to evaluate the performance of the maximum likelihood estimators. Finally, two real-world examples are described in order to explain the model under consideration.
Received: August 7, 2022
Accepted: September 12, 2022
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