A Study on One-Parameter Entropy-Transformed Exponential Distribution and Its Application

Abstract

This study presents the Entropy-Transformed Exponential Distribution (EnTrED), in an attempt to enhancing the flexibility and applicability of the traditional exponential distribution. The study explores the statistical properties of the EnTrED, including mode, quantile function, reliability, moments, and hazard function. The parameters of the distribution were estimated using maximum likelihood estimation, and the stability of these estimates was thoroughly evaluated through extensive Monte Carlo simulation. The simulation results demonstrated that the maximum likelihood estimates of the model parameters were well-behaved. Additionally, Empirical assessments against alternative distributions underscores the robustness of the EnTrED as a superior model for analyzing life data.