On the Inverted Beta Generated Slash Distribution: Properties and Application

In this paper, we propose a new distribution called inverted beta generated slash distribution which is the inverted form of the beta generated slash distribution. The beta generated slash distribution is first introduced and then the inverted form of this distribution is established which is named as inverted beta generated slash distribution. The explicit expressions for pdf, cdf, moments, skewness, kurtosis, median are derived and their variation with different values of the parameters are studied. The hazard rate function assumes different shapes depending on the values of the parameters. A few additional properties such as moment generating function, Mills Ratio, Lorenz and Bonferroni curves, order statistics, hazard rate function of the proposed distribution are also explored. The method of maximum likelihood is used to estimate the unknown parameters of this distribution and a simulation study is conducted to check the performance of these estimates. The MLE’s are found to be consistent and precise in estimating the true value of the parameters. Finally, the proposed distribution is applied to a data set to check the flexibility of the model and the goodness-of-fit of the proposed distribution is compared with three other competing distribution to show its flexibility and advantage particularly in modeling heavy-tailed data sets.