The Marshall-Olkin Pranav distribution: Theory and applications

Abstract

The current paper presented new two-parameter life processes distribution, the Marshall-Olkin Pranav (MOEP) distribution. This study combines the Marshall-Olkin method with the Pranav distribution to produce a more accessible and flexible model used to perform data survival techniques. Some of its critical statistical features are presented in this study. For instance, we mentioned its survival , hazard, reversed hazard, and cumulative hazard rate function. Then we discussed its Moment generating functions, The characteristic function, Incomplete moments, R`enyi and Entropies, and stochastic orderings. The research utilized maximization of chance in estimating parameters. These tests are done through simulations to achieve the desired results. After its attainment, real-life data was used to test the new model, which possesses the best goodness of fit.