Harris Extended Dagum Distribution: Properties and Application

Abstract In this paper, we introduce a new lifetime distribution called the Harris extended Dagum distribution, which is defined by four shape parameters and one scale parameter. Alternative expressions for the HED distribution have been created to make complex calculations easier. We look into some important properties of the distribution, such as the expression for its mean, variance, characteristics function, moment generating function, skewness and kurtosis, entropy measures, and the distribution of its order statistics. To determine the effectiveness of the HED distribution, we estimate its parameters using the maximum likelihood estimation (MLE) method and test their accuracy with monte carlo simulations. Finally, we apply the HED distribution to three real-world datasets and compare its performance to several other competing distributions. Our findings reveal that the newly suggested HED distribution beats the other distributions regarding adaptability and effectiveness.