Title: The power Muth distribution
Authors: Pedro Jodra-Esteban - Universidad de Zaragoza (Spain) [presenting]
Hector W Gomez - Universidad de Antofagasta (Chile)
Maria Dolores Jimenez-Gamero - Universidad de Sevilla (Spain)
Abstract: Muth defined a continuous probability distribution with application in reliability theory. A new distribution is derived from the Muth distribution. Some statistical properties of the model are studied, such as the computation of the moments, generation by computer of pseudo-random data and the behaviour of the failure rate function, among others. The estimation of parameters is carried out by the method of maximum likelihood and a Monte Carlo simulation study is provided to assess the performance of this method. The practical usefulness of the model is illustrated by two real data sets, showing that it provides a better fit than other previously considered probability distributions.