The Burr X Fréchet Model for Extreme Values: Mathematical Properties, Classical Inference and Bayesian Analysis

In this paper, we investigate a new model based on Burr X and Fréchet distribution forextreme values and derive some of its properties. Maximum likelihood estimation alongwith asymptotic confidence intervals is considered for estimating the parameters of thedistribution. We demonstrate empirically the flexibility of the distribution in modelingvarious types of real data. Furthermore, we also provide Bayes estimators and highestposterior density intervals of the parameters of the distribution using Markov ChainMonte Carlo (MCMC) methods.