Nwikpe Probability Distribution: Statistical Properties and Goodness of Fit
In this paper, we introduce a new continuous probability distribution developed from two classical distributions namely, gamma and exponential distributions. The new distribution is called the Nwikpe distribution. Some statistical properties of the new distribution were derived. The shapes of its probability density function have been established for different values of the parameters. The moment generating function, the first four raw moments, the second moment about the mean, Renyi’s entropy and the distribution of order statistics were derived. The parameter of the new distribution was estimated using maximum likelihood method. The shape of the hazard function of the new distribution is increasing. The flexibility of the distribution was shown using some real life data sets, the goodness of fit shows that the new distribution gives a better fit to the data sets used in this study than the one parameter exponential, Shanker, Lindley, Akash, Sujatha and Amarendra distributions.