A New Flexible Three-parameter Model: Properties, Clayton Copula, and Modeling Real Data

Abstract

In this article, we introduced a new extension of the binomial-exponential 2 distribution. We discussed some of its structural mathematical properties. A simple type Copula-based construction is also presented to construct the bivariate- and multivariate-type distributions. We estimated the model parameters via the maximum likelihood method. Finally, we illustrated the importance of the new model by the study of two real data applications to show the flexibility and potentiality of the new model in modeling skewed and symmetric data sets.

Keywords

• marshall–olkin
• binomial exponential-2
• moments
• clayton copula
• morgenstern family
• maximum likelihood estimation