The Teissier-G family of distributions: Properties and applications
Joseph Thomas Eghwerido, Lawrence Chukwudumebi Nzei, Adebola Evelyn Omotoye, Friday Ikechukwu Agu
Abstract
Abstract This study introduces a parsimonious and tractable generator for continuous distribution called the Teissier-G family of distributions for continuous random variables and examines the distributions belonging to this family as the sub-models. Some general statistical characteristics and sub-models of the new generator were examined and studied. Similarly, we examined the shapes of the sub-models probability density function (pdf) and hazard rate function were investigated. The parameter of the proposed model was obtained in a closed form by maximum likelihood. In addition to the numerical real life applications, Monte Carlo simulation was performed to examine the flexibility of the introduced models. The models provide good fits in all the cases. The results show great improvement compared to existing models.