Modeling Healthy Data with New Alpha Power Inverse Weibull Distribution
摘要
A new distribution creation method is presented in this article. The final distributions may be shaped with great flexibility thanks to alpha power transformation methods. The alpha power inverse Weibull Quantile exponential is introduced using a unique approach. The distribution’s density may show imbalanced, almost equal, and opposite geometries. Asymmetric variants of the related failure rate function include decreasing, increasing, Right-skewed, almost symmetrical, and L-shaped forms. These different shapes make the function more manageable for various modeling purposes. The mathematical properties of the recommended distribution are identified. The maximum likelihood approach estimates the proposed distribution’s unknown parameters. In addition, many quantitative analyses were conducted to assess the estimate’s accuracy. The new distribution’s flexibility and usefulness are evaluated using real-world datasets. Proving its extraordinary flexibility in real-world data processing, the suggested alpha power inverse Weibull Quantile exponential distribution outperforms other popular distributions.