A new three-parameter exponential distribution with applications in reliability and engineering

Abstract

We introduce a new three-parameter model called the odd inverse Pareto exponential distribution which extends the exponential distribution and provides constant, decreasing, increasing, decreasing-increasing, upside-down bathtub and bathtub failure rate shapes. Some of its mathematical properties are derived. The maximum likelihood method is used to estimate the model parameters. The proposed model provides better fits over some existing distributions by means of two real data sets.