Statistical Properties and Applications of a Transmuted Exponential-inverse Exponential Distribution
The Quadratic rank transmutation map was proposed and studied for introducing skewness and flexibility into probability models with a single parameter known as the transmuted parameter. This methodology has received greater attention and application using several classical distributions. However, the Exponential Inverse Exponential distribution has not been transmuted since its introduction. This article used the Quadratic rank transmutation map to add flexibility to the Exponential Inverse Exponential distribution which resulted to a new continuous distribution called “Transmuted Exponential Inverse Exponential distribution”. This paper has presented the definition, validation, properties, applications and estimation of unknown parameters of the transmuted Exponential Inverse Exponential distribution using the method of maximum likelihood estimation. The new distribution has been applied to three real life datasets and results provided evidence that it is better than the other existing distributions based on the datasets used. Thus, this new model can be applied fully in modeling real life problems most especially in survival analysis
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