The Minimum Lindley Lomax Distribution: Properties and Applications

Abstract

By fusing the Lindley and Lomax distributions, we present a unique three-parameter continuous model titled the minimum Lindley Lomax distribution. The quantile function, ordinary and incomplete moments, moment generating function, Lorenz and Bonferroni curves, order statistics, Rényi entropy, stress strength model, and stochastic sequencing are all carefully examined as basic statistical aspects of the new distribution. The characterizations of the new model are investigated. The proposed distribution’s parameters were evaluated using the maximum likelihood procedures. The stability of the parameter estimations is explored using a Monte Carlo simulation. Two applications are used to objectively assess the new model’s extensibility.