Neutrosophic Exponentiated Power Lomax Distribution

Abstract

The probability distribution is of great significance in probability the-
ory, which is inherent in virtually all the branches of science. It is said
to be used selectively in actuarial science with reference to insurance and
finance, medicine, agriculture, demography and econometrics. However, the
main contribution of the current research work is to propose a new distri-
bution called as neutrosophic exponentiated power Lomax distribution or
briefly NEPL. Several other mathematical characteristics that describe life
survival and the related characteristics, such as hazard rate and functions
and moment-generating functions and other tests of mean, variance, and
standard deviation, asymmetry and kurtosis, have been built and analyzed.
Monte Carlo method has been applied also to assess the efficiency of NEPL
distribution estimate. Therefore, the results of the simulation carried out
for this study reveal that the process of estimating with reasonable degree of
accuracy is feasible only when the size of the sample is comparatively large.
The existence of the premature infant staying time data has been utilised
to illustrate the specific manner in which the elaborated NEPL distribution
has been suggested for being applied. Based on the discussions of the pre-
vious sections, it can be deduced that the NEPL distribution is also general
in terms of its applications because it can deal with all forms of data that
is, it does not distinguish between certainty, probabilities of uncertainties,
ambiguties or imprecisions.