On Properties and Applications of A Two-Parameter Xgamma Distribution

Abstract

An existing one-parameter probability distribution can be very well generalized by adding an extra parameter in it and, in turn, the two-parameter family of distributions, thus obtained, provides added flexibility in modeling real life data. In this article, we propose and study a two-parameter generalization of xgamma distribution [1] and utilize it in modeling time-to-event data sets. Along with the different structural and distributional properties of the proposed two-parameter xgamma distribution, we concentrate in studying useful survival and reliability properties, such as hazard rate, reversed hazard rate, stress-strength reliability etc. Two methods of estimation, viz. maximum likelihood and method of moments, are been suggested for estimating unknown parameters. Distributions of order statistics, stochastic order relationships are investigated for the proposed model. A Monte-Carlo simulation study is carried out to observe the trends in estimation process. Two real life time-to-event data sets are analyzed and the proposed model is compared with some other two-parameter lifetime models in the literature. (C) 2018 The Authors. Published by Atlantis Press SARL.