A new flexible Weibull extension model: Different estimation methods and modeling an extreme value data

• Published in: Heliyon Vol. 9; no. 11; p. e21704
• Main Authors: Alshanbari, Huda M., Odhah, Omalsad Hamood, Al-Mofleh, Hazem, Ahmad, Zubair, Khosa, Saima K., El-Bagoury, Abd al-Aziz Hosni
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.11.2023; Elsevier
• Subjects: Distributional properties; Estimation; Extreme value theory; Flexible Weibull extension distribution; Flood data; Extreme value theory; Flexible Weibull extension distribution; Flood data; Estimation; Distributional properties
• ISSN: 2405-8440; 2405-8440
• DOI: 10.1016/j.heliyon.2023.e21704

The word extreme events refer to unnatural or undesirable events. Due to the general destructive effects on society and scientific problems in various applied fields, the study of extreme events is an important subject for researchers. Many real-life phenomena exhibit clusters of extreme observations that cannot be adequately predicted and modeled by the traditional distributions. Therefore, we need new flexible probability distributions that are useful in modeling extreme-value data in various fields such as the financial sector, telecommunications, hydrology, engineering, and meteorology. In this piece of research work, a new flexible probability distribution is introduced, which is attained by joining together the flexible Weibull distribution with the weighted T-X strategy. The new model is named a new flexible Weibull extension distribution. The distributional properties of the new model are derived. Furthermore, some frequently implemented estimation approaches are considered to obtain the estimators of the new flexible Weibull extension model. Finally, we demonstrate the utility of the new flexible Weibull extension distribution by analyzing an extreme value data set.