Inverse Weibull power series distributions: properties and applications

What is it about?

In this paper, we introduce a new lifetime distribution. We provide the EM algorithm to determine the maximum likelihood estimates of the parameters. Furthermore, we characterize the proposed distributions using a simple relationship between two truncated moments and maximum entropy principle under suitable constraints.

Featured Image

Why is it important?

The new distribution family conceived inside a latent complementary risk scenario is proposed, in which there is no information about the responsible factor for the component failure (or individual death) and only the maximum lifetime value among all risks is observed. Our distribution is based on the inverse Weibull distribution which is widely used for modelling various problems in lifetime testing and reliability studies.

Perspectives