A New Weighted T − X Perks Distribution: Characterization, Simulation And Applications
Keywords:
Functional Form, Moment, Perks Distribution, Quantile Function, Weighted T-X FamilyAbstract
In this article, a new distribution is proposed to innovate the Perks distribution by altering its functional form without introducing additional parameter. The proposed distribution is named a new weighted T-X Perks (WT-XP) distribution. For this distribution, expressions for some mathematical properties are derived. The maximum likelihood estimates of the parameters α and β are derived and implemented for complete samples that follow the WT-XP distribution. To illustrate the importance of the proposed distribution over the other well-known distributions, two applications to real data sets are analyzed and the WT-XP distribution appear more attractive based on the Kolmogorov Smirnov statistic p-values and the model performance indicators used.
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