On The Alpha Power Transformed Quasi Aradhana Distribution: Properties and Applications
In this study, a new three-parameter lifetime model is proposed with the purpose to obtain more flexible model in terms of hazard rate function. The new model is called the Alpha Power Transformed Quasi Aradhana distribution. The new model has the advantage of being capable modeling various shapes of failure criteria. The distribution has the ability to model both monotone and non-monotone failure rates. It has been proved from the study that the proposed model provides a better fit to the data having monotone as well as non-monotone behavior. Several statistical properties of the model has been derived such as reliability function, hazard function, moments, moment generating function, characteristic function, order statistics, entropies, Bonferroni and Lorenz curves. The parameters of the model are investigated by the method of maximum likelihood estimation technique. The usefulness of the model is demonstrated by using real-life data.