The Iwok-Nwikpe Distribution: Statistical Properties and Application (Published)
In this paper, a new continuous probability distribution named ‘Iwok-Nwikpe distribution’ is proposed. Some of the important statistical properties of the new distribution were derived. The shapes of the probability density function, cumulative distribution function and the survival function have been displayed for different values of the parameter. The moment generating function, the first three raw moments, the second and third moments about the mean and the distribution of order statistics were also derived. The parameters of the new distribution were estimated using maximum likelihood method. The flexibility of the Iwok-Nwikpe distribution was demonstrated using some real life data sets. The goodness of fit showed that the Iwok-Nwikpe distribution outperforms the one parameter exponential, Lindley, Shanker, Sujatha and Amarendra distributions for the data sets used in this work
Keywords: Lindley distribution, Moment Generating Function, Order statistics, Parameter estimation, Shanker distribution, Sujatha distribution, Survival function and Goodness of fit