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Prakaamy Distribution with Properties and Applications
Keywords
Moments, Reliability measures, Stochastic ordering, Mean Deviation, Bonferroni and Lorenz curves, Order Statistics, Renyi entropy measure, Estimation of parameters, goodness of fit
Abstract
In the present paper, a new one parameter life lime distribution has been proposed and named Prakaamy distribution. Its moments and moments based measures have been derived. Statistical properties including stochastic ordering, mean deviations, Bonferroni and Lorenz curves, order statistics, Renyi entropy and stress-strength measure have been discussed. Simulation study of proposed distribution has also been discussed. For estimating its parameter method of moments and method of maximum likelihood have been discussed. Goodness of fit of Prakaamy distribution has been presented and compared with other lifetime distributions of one parameter. It was found superior than other one parameter life time distributions.