On Weibull-Pareto Distribution in Censored and Uncensored Data Structures

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Ekoist: Journal of Econometrics and Statistics
Issue:33
On Weibull-Pareto Distribution in Censored and Uncensored Data Structures

On Weibull-Pareto Distribution in Censored and Uncensored Data Structures

Authors : Kamil ALAKUS, Necati ERİLLİ

Pages : 1-11

Doi:10.26650/ekoist.2020.33.810417

View : 31 | Download : 6

Publication Date : 2021-01-15

Article Type : Research Paper

Abstract :The Weibull distribution gives a flexible measurement that details the probability distribution associated with the lifetime characteristics of a particular part or service component. It is commonly used to assess product reliability, analyze life data, and model failure times. It is a versatile distribution that can take on the characteristics of other types of distributions, based on the value of the shape parameter. Weibull-Pareto distribution has been introduced as a new type of application of the Weibull distribution. In this article, it is investigated point and interval estimation for Weibull-Pareto distribution with censored and uncensored data. With real-time data applications, it is showed that Weibull-Pareto results are clearly better against Exponential, Gamma, and Weibull distributions results.
Keywords : Weibull Pareto distribution, Alternative maximum likelihood estimation, T X family, Weibull distribution

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