B0423
Title: A lifetime distribution with increasing failure rate
Authors: Pedro Jodra-Esteban - Universidad de Zaragoza (Spain) [presenting]
Abstract: A new two-parameter probability distribution with increasing failure rate is studied. Some statistical measures are provided in closed-form such as the moments, the incomplete moments, the quantile function and the mean residual life, among others. In this regard, the upper incomplete gamma function and the Lambert $W$ function play a central role. On the other hand, the parameter estimation problem is carried out by the maximum likelihood method. The good performance of this method is assessed by means of a Monte Carlo simulation study. Different real data sets illustrate that the proposed model may provide a better fit than other probability distributions.
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