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Power Pranav Distribution and its Applications to Model Lifetime Data
Keywords
Pranav distribution, Moments, Hazard rate function, Stochastic ordering, Maximum likelihood estimation, Goodness of fit
Abstract
In this paper, a two-parameter power Pranav distribution (PPD), of which Pranav distribution introduced by Shukla (2018) is a special case, has been proposed. Its important statistical properties including shapes of the density, moments, coefficient of variation, skewness, kurtosis and index of dispersion have been obtained and presented graphically. Hazard rate and stochastic ordering of the proposed distribution have also been studied and discussed. The maximum likelihood estimation has been discussed for estimating its parameters. Simulation study of PPD has also been carried out. Application and goodness of fit of the proposed distribution has been discussed with a real lifetime datasets from engineering and biology. Its fit was found satisfactory over two parameter power Ishita distribution (PID), power Akash distribution (PAD), power Lindley distribution (PLD) and one parameter Pranav distribution.