A TRANSMUTED POWER LOMAX DISTRIBUTION

T. T. Moltok, H. G. Dikko, O. E. Asiribo

Abstract


In this article, a new distribution is proposed called the transmuted Power Lomax distribution as an extension of the popular Lomax distribution in its power transformation-form using the Quadratic rank transmutation map. Using the transmutation map, we defined the probability density function (pdf) and cumulative distribution function (cdf) of the transmuted power Lomax distribution. Some properties of the new distribution such as moments, moment generating function, characteristics function, quantile function, survival function, hazard function and order statistics
were also studied. The estimation of the distribution’s parameters was also done using the method of maximum likelihood estimation. The performance of the proposed probability distribution was checked in comparison with some other generalizations of Lomax distribution using a real life dataset. The results obtained indicated that TPLD performs better than the other distributions comprising Power Lomax, Weibull-Lomax, and the Lomax distribution.


Keywords: Lomax Distribution, Quadratic rank transmutation map, Transmuted Power Lomax distribution.


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