A New Probability Distribution for Modeling Failure and Service Times: Properties, Copulas and Various Estimation Methods

In this paper, a new generalization of the Pareto type II model is introduced and studied. The density canbe “right skewed” with heavy tail shape its corresponding failure rate can be “J-shape”, “decreasing” “upside down (or increasing-constant-decreasing)”. may used as an “under-dispersed” “over-dispersed” model. Bayesian non-Bayesian estimation methods are considered. We assessed performance all via simulation study. compared in modeling real data two applications. data, maximum likelihood method best method. So, we it comparing competitive models. Before using method, performed experiments to assess finite sample behavior biases mean squared errors.