The Pareto-Exponential Distribution: Theory and Real-life Applications



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Submitted Apr 17, 2022
Published May 24, 2022
10.24018/ejmath.2022.3.3.116

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In this article, Pareto-Exponential (PE) distribution, a sub model of the Pareto-X family which is introduced by Rana et al. [1], is explained. The maximum likelihood estimators of the model parameters are find out, and a simulation study is also done. Various distributional properties of the proposed model are illustrated. Some practical- life applications are appraised from different types of fields for examining the applicability of proposed model. The empirical implementation exhibits that the developed model allow greater suitability than any other models applied in this study.

Keywords: Family of distributions, T-X family, Pareto-X family, Pareto-Exponential distribution, Reliability function, Order statistics, Maximum likelihood estimation

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