The Lomax - Ramos Louzada distribution with an properties

Abstract

In this study, a new generalization Odd Ramos-Louzada  Generalization (ORL-G) is provided, which is one of the continuous distributions with one parameter and it is combination with the Lomax distribution. The new distribution is called the Ramos-Louzada Lomax distribution with three parameters (β, α, θ), which is one of the suitable distributions for failure times. Some basic statistical properties were derived, such as the density function, the cumulative function, the survival function, and the risk function. Two estimation methods were used, were are (the maximum likelihood method and the least squares method), and a comparison between the two estimation methods  by using the mean square error to find out the best method. Using Monte Carlo simulation , taking four experiments and five samples sizes, the results showed that the maximum likelihood method is superior to the other method.