Alpha Power Exponentiated New Weibull-Pareto Distribution: Its Properties and Applications

Abstract

In this paper, a new five-parameter model called alpha power exponentiated new Weibull-Pareto distribution is introduced based on a new developing technique. We derived some properties relating to the proposed distribution, including moments, moment generating function, quantile function, mean residual life and mean waiting time, and order statistics of the new model. The model parameters are estimated using the maximum likelihood method. Some simulation studies are performed to investigate the effectiveness of the estimates. Finally, we used three real-life data sets to show the flexibility of the introduced distribution.