Exponentiated Approach on Intervened Exponential Model with Real-Life Study

Abstract

In this article, the exponentiated approach has been utilized to develop the new extension of Intervened Exponential distribution named as an exponentiated intervened exponential distribution. The
various statistical properties of the proposed distribution have been derived, whereas the reliability
characterization involves some special functions such as the reliability function, hazard rate, aging intensity, and the mean residual life function. In addition, the other major results presented in the article include order statistics, stress strength reliability, and stochastic ordering. Furthermore, the entropy measures that are Shannon and Renyi are also derived. The method of the maximum likelihood ´
approach has been used for parameter estimation. Monte Carlo simulation study is recommended followed by the acceptance-rejection algorithm for data generation and in this study, the behavior of the estimated parameters is discussed based on the calculated values of bias and the mean square error. Lastly, the real-life data set is analyzed to ensure the applicability of the newly developed model.