Statistical Analysis of Marshall-Olkin inverse Maxwell Distribution: Estimation and Application to Real Data.

In this paper, Marshall-Olkin inverse Maxwell distribution is proposed by generalizing the inverse Maxwell distribution under the Marshall-Olkin family of distribution that leads to greater flexibility in modeling various new data types. The basic statistical properties for the proposed distribution including moments, quantile function, median, skewness, kurtosis, and stochastic ordering are derived. Point estimates for the parameters are obtained by using two well known methods maximum likelihood and maximum spacing methods. The confidence intervals are used by using asymptotic properties of maximum likelihood estimators and boot-p methods. We have applied the proposed distribution under different real-life scenarios such as record value problem, system lifetime distributions, stress-strength reliability and random censored problems. For illustration purposes, simulation and real data results are established. [ABSTRACT FROM AUTHOR]