The Odd Log-Logistic Generalized Gompertz Distribution:Properties,Applications and Different Methods of Estimation

We introduce a four-parameter lifetime distribution called the odd log-logistic generalized Gompertz model to generalize the exponential,generalized exponential and generalized Gompertz distributions,among others.We obtain explicit expressions for themoments,moment-generating function,asymptotic distribution,quantile function,mean deviations and distribution of order statistics.The method of maximum likelihood estimation of parameters is compared by six different methods of estimations with simulation study.The applicability of the new model is illustrated by means of a real data set.

The Odd Log-Logistic Weibull-G Family of Distributions with Regression and Financial Risk Models

A new generalization of the Weibull-G family is proposed with two extra shape parameters.The mathematical properties are derived in great detail.Using the Weibull and normal distributions as baseline distributions,two models are introduced.The first model is a location-scale regression model based on a new extension of the Weibull distribution.The second model is a new two-step financial risk model to forecast the daily value at risk.The flexibility and applicability of the proposed models are investigated by means of five real data sets on the lifetime and financial returns.Empirical findings of the study show that proposed models work well and produce better results than other well-known models for financial risk modeling and censored lifetime data analysis.