Odd Generalized Exponential Power Function Distribution: Properties and Applications

Abstract

In this article we introduce and study a new four-parameter distribution, called the oddgeneralized exponential power function distribution. The proposed model is a particular case fromthe odd generalized exponential family. Expressions for the moments, probability weightedmoments, quantile function, Bonferroni and Lorenz curves, Rényi entropy and order statistics areobtained. The model parameters are estimated via the maximum likelihood and percentilesmethods of estimation. A simulation study is carried out to evaluate and compare the performanceof estimates in terms of their biases, standard errors and mean square errors. Eventually, thepractical importance and flexibility of the proposed distribution in modelling real data applicationis checked. It can be concluded that the new distribution works better than some other knowndistributions.