Odd Lindley-Lomax model: Statistical properties and applications

Abstract

In this work, we focus on some new theoretical and computational aspects of the Odd Lindley- Lomax model. The maximum likelihood estimation method is used to estimate the model parameters. We show empirically the importance and flexibility of the new model in modeling two types of aircraft windshield lifetime data. This model is much better than exponentiated Lomax, gamma Lomax, beta Lomax and other Lomax models so that the Odd Lindley-Lomax lifetime model is a good alternative to these models in modeling aircraft windshield data. A Monte Carlo simulation study is used to assess the performance of the maximum likelihood estimators.