Power Exponentiated Family of Distributions with Application on Two Real-Life Datasets
Keywords:Exponential distribution, moments, Renyi entropy, order statistics, maximum likelihood estimation
In this paper we introduce new power exponentiated family of continuous univariate probability distributions with application on two real-life datasets. The proposed distribution possesses density function with three parameters and constant hazard rate function. We studied the nature of distribution with the help of its mathematical and statistical properties. Probability density function of order statistics for this distribution is also obtained. We perform classical estimation of parameters by using the technique of maximum likelihood estimate. Application of the model on two real data sets is finally presented and compared to the fit attained by some other well-known distributions.