A new three-parameter distribution called logistic exponential-Poisson (LEP) distribution is proposed as a special sub-model of the newly LE power-series family. The failure rate of the LEP model can be increasing or decreasing. Explicit algebraic formulations of the LEP model such as quantile, ordinary moments and associated measures, mean residual life, moment generating function, and density of order statistics are derived. The LEP parameters are estimated using the maximum likelihood technique. To examine the behavior of maximum likelihood estimates, a complete Monte Carlo simulation analysis is employed. The applicability of the LEP distribution is evaluated using a real-life dataset, showing its more efficient results than well-known competing probability distributions. |
