Proceedings of International Conference on Applied Innovation in IT
2025/12/22, Volume 13, Issue 5, pp.925-931
Maximum Likelihood Estimation for the Weibull-Burr Distribution
Alaa Mohammad and Abbas Kneehr Abstract: This study introduces a new family of distributions known as the five-parameters Weibull- Burr distribution. This study aims to present a new family of Weibull-Burr distributions by utilizing the maximum likelihood estimation (MLE) method to determine the efficiency of the exponential family through the mean square error (MSE) by utilizing Monte Carlo simulation experiments by using the R program. It is designed to offer greater flexibility in the modeling of the financial, and actuarial data. The distribution in view presents five parameters, being thus capable of describing very peculiar hazard rate behaviors, and extreme values. Among the key statistical properties derived in this paper are the probability density function, cumulative distribution function, and moments of the distribution. Further, the paper concentrates on parameter estimation of the distribution by the method of MLE. The log-likelihood function was formulated, and processed, followed by parameter estimation, and further by the simulation under different sample sizes. Simulation results show that the proposed model can effectively address complex data structures. These results clearly indicate that the Weibull –Burr Model offers a promising alternative to the classical distributions used in modeling in finance, and actuarial domains.
Keywords: Weibull- Burr Distribution, Weibull Distribution, MLE, MSE, Simulation.
DOI: Under indexing
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