• TRANSMUTED MODIFIED INVERSE WEIBULL DISTRIBUTION: A GENERALIZATION OF THE MODIFIED INVERSE WEIBULL PROBABILITY DISTRIBUTION

Abstract

A functional composition of the cumulative distribution function of one probability distribution with the inverse cumulative distribution function of another is called the transmutation map. In this article, we will use the quadratic rank transmutation map (QRTM) in order to generate a flexible family of probability distributions taking modified inverse weibull distribution as the base value distribution by introducing a new parameter that would offer more distributional flexibility. It will be shown that the analytical results are applicable to model real world data.