The Generalized Weibull Pareto Distribution; Its Properties and Application

Abstract

Modeling and analysis of lifetimes is an important aspect of statistical work in a wide variety of scientific and technological fields. In this study, a four-parameter lifetime model called the Generalized Weibull-Pareto (GWPD) distribution was proposed using the concept of exponentiated distributions. Some properties of the proposed distribution have been studied including explicit expressions for the moments, moments generating function, Survival and Hazard function. The method of Maximum Likelihood Estimation was used for estimating the model parameters. The proposed distribution was applied to two real data sets to prove its fit over some other baseline distributions.