• The Transmuted Weighted Exponential Distribution: Theory and Application

Abstract

A generalization of the weighted exponential distribution so-called transmuted weighted exponential distribution is proposed and studied. We will use the quadratic rank transmutation map (QRTM) in order to generate a flexible family of probability distributions taking weighted exponential distribution as the base value distribution by introducing a new parameter that would offer more distributional flexibility. Various structural properties including explicit expressions for the moments, quantiles, moment generating function and order statistics of the new distribution are derived. Its parameters were estimated using the method of maximum likelihood for estimating the model parameters and obtain the observed information matrix. Three real data sets are used to compare the flexibility of the transmuted version versus the weighted exponential distribution. Results obtained by Oguntunde et al. (2016) can be considered as a special case from present results.