NEW ALPHA POWER INVERSE WEIBULL DISTRIBUTION WITH RELIABILITY APPLICATION ON THE TIME SPENT WAITING FOR ASSISTANCE AT TWO BANKS

Abstract

In this study, a novel generalized New Alpha Inverse Weibull (NAPIW) distribution is defined utilizing the Alpha power transformation method. Its statistical features, such as reliability and moments, are obtained. Additionally, the estimate of the NAPIW parameters using the maximum likelihood estimation approach is discussed. Eventually, the proposed new distribution is applied to actual data reflecting the time spent waiting for customer assistance in a bank, and its goodness-of-fit is shown. Furthermore, we use simulation data as well. Moreover, calculating mean square errors and bias for all parameters and some other measurements as well.

keywords: New Alpha Power Transformation; Inverse Weibull Distribution; Reliability; Moments; Maximum Likelihood Estimation; Simulation