New distribution model enhances reliability and accuracy of real data analysis.
A new type of distribution called Reflected Generalized Beta of Generalized Inverse Weibull Distribution was created by extending the Generalized Inverse Weibull distribution. This distribution has properties like moments, entropy, order statistics, and a reliability measure. The relationship between Inverse Weibull and Dagum distributions was also explored. The researchers found the maximum likelihood estimators for the parameters and provided the Fisher information matrix. They demonstrated the usefulness of this new model by applying it to real data.