• A New Heavy-tailed Distribution with Decreasing Hazard Rate   [MASS 2012]
  • Author(s)
  • Weizhao LIU
  • We propose a new heavy-tailed distribution with decreasing hazard rate, which is derived by mixing Pareto and Poisson distributions. Statistical properties of the new distribution are derived. Various characteristic quantities which can be used in risk analysis and reliability engineering, including its moments, entropy, hazard rate and mean residual life, are studied. The existence and uniqueness of maximum likelihood estimate of the unknown parameter in the introduced distribution are obtained and simulation studies are performed.
  • Pareto-Poisson distribution; hazard rate; entropy; mean residual life
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