1 research outputs found
The Odd Log-Logistic Log-Normal Distribution with Theory and Applications
In this paper, a new heavy-tailed distribution is used to model data
with a strong right tail, as often occuring in practical situations. The
proposed distribution is derived from the log-normal distribution, by
using odd log-logistic distribution. Statistical properties of this
distribution, including hazard function, moments, quantile function, and
asymptotics, are derived. The unknown parameters are estimated by the
maximum likelihood estimation procedure. For different parameter
settings and sample sizes, a simulation study is performed and the
performance of the new distribution is compared to beta log-normal. The
new lifetime model can be very useful and its superiority is illustrated
by means of two real data sets