This study introduces the Marshal-Olkin Lomax distribution by compounding the Lomax distribution with the Marshal-Olkin generator. Various statistical properties of this new compound distribution, including the survival function, hazard function, moments, moment generating functions, and order statistics, were derived. The distribution parameters were estimated using the maximum likelihood estimation technique. Subsequently, the newly developed model, along with existing well-known models, was applied to a real-life dataset. The results of this application demonstrated that the newly proposed model outperformed other existing models, as evidenced by the evaluation metrics.
Key words: Marshal Olkin, Maximum Likelihood, Lomax Distribution, Entropy
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