Modeling life time data with new alpha power pareto transformation distribution
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Keywords:
Pareto distribution, survival function, alpha power transformationAbstract
The need arose to find composite, expanded, or transformed distributions that would be more flexible in representing data using different statistical methods. This research includes a study of the proposed distribution resulting from alpha energy conversion. Using the survival function of the Pareto distribution to obtain the new distribution is the alpha power Pareto transformed (APTP) distribution. The new distribution provides more outstanding suitability than the Pareto and transformed Pareto distributions. Some statistics properties of the proposed distribution, such as quantile function, moments, and survival reliability risk and demand statistics are discussed. The maximum likelihood was used to estimate the parameter, and theactual data sets were used to see how the new distribution performs better in real life.
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