The modified Fréchet distribution and its properties |
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Authors: | Claudio J Tablada Gauss M Cordeiro |
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Institution: | Departamento de Estatística, Universidade Federal de Pernambuco, Recife, PE, Brazil |
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Abstract: | The Fréchet distribution is an absolutely continuous model which has wide applicability in extreme value theory. In this paper, we propose a new three-parameter model, so-called the modified Fréchet distribution, to extend the Fréchet distribution. By using the Lambert function, we obtain some properties of the new distribution. We provide a simulation study to illustrate the performance of the maximum likelihood estimates. The flexibility of the introduced distribution is illustrated by means of a real data set. We use some goodness-of-fit statistics to verify the adequacy of the proposed model. We prove empirically that it is appropriate for lifetime applications. |
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Keywords: | Extended distributions Fréchet distribution Lambert W function lifetime analysis modified Fréchet distribution |
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