The Weibull-Epsilon Distribution: its Properties and Applications

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ABSTRACT

In this study, a new probability distribution called Weibull-epsilon distribution is introduced. Some of the basic statistical properties have been described. The density and hazard rate function plots exhibit unimodal and bathtub shapes, respectively.. Its varying shapes show it is possible to use in modeling different data generating processes. It is fitted to two real-life datasets and provided better fit when compared with the fit of the Weibull distribution to the same datasets. Particularly for the carbon fiber breaking stress dataset, the new distribution is a better choice over the three parameter Cauchy-Weibull-Logistic distribution, with 1.62 % gain in likelihood per data point. It, therefore, holds a good prospect for practical applications in engineering, social and biological systems, mortality studies in demography and renewable energy modeling.

KEYWORDS

hazard rate function, Weibull-G distributions, Cauchy-Weibull-Logistic distribution, solar radiation model, breaking stress of carbon fibers data

Cite this paper

Gongsin Isaac Esbond, Funmilayo W. O. Saporu. (2020) The Weibull-Epsilon Distribution: its Properties and Applications. International Journal of Mathematical and Computational Methods, 5, 80-88