New Generalized Weibull Inverse Gompertz Distribution: Properties and Applications.

In parametric statistical modeling, it is essential to create generalizations of current statistical distributions that are more flexible when modeling actual data sets. Therefore, this study introduces a new generalized lifetime model named the odd Weibull Inverse Gompertz distribution (OWIG). The OWIG is derived by combining the odd Weibull family of distributions with the inverse Gompertz distribution. Essential statistical properties are discussed, including reliability functions, moments, Rényi entropy, and order statistics. The proposed OWIG is particularly significant as its hazard rate functions exhibit various monotonic and nonmonotonic shapes. This enables OWIG to model different hazard behaviors more commonly observed in natural phenomena. OWIG's parameters are estimated and its flexibility in predicting unique symmetric and asymmetric patterns is shown by analyzing real-world applications from psychology, environmental, and medical sciences. The results demonstrate that the proposed OWIG is an excellent candidate as it provides the most accurate fits to the data compared with some competing models. [ABSTRACT FROM AUTHOR]