The properties of odd Lomax-Dagum distribution and its application

Abstract

An Odd Lomax-Dagum distribution has been developed in this study. The distribution has been developed from Odd Lomax-G family of distributions. The structural characteristics of the distribution have been derived with relevant supporting plots of the probability distribution function (PDF), hazard function, survival function etc. The performance of Odd Lomax-Dagum distribution is examined by fitting it to two skewed datasets, along with Weilbull-Dagum distribution (WeiDaD), Dagum distribution (DaD) and Lomax distribution (LomD). The distribution demonstrated great flexibility in modelling the two datasets as compared to other distributions considered in the study.

Keywords

• Lomax distribution
• Dagum distribution
• Odd Lomax-Dagum distribution
• Generator
• Parameters