New odd Chen Fr´echet distributions: Properties and applications

To introduce a new four-parameter lifetime distribution that will be more flexible in modelling real lifetime data over the existing common lifetime distributions. The new four-parameter lifetime distribution is generated by using the odd Chen generator of distributions. In this method, the probability density function and cumulative distribution function of Fr´echet distributions are used as a base distribution for odd Chen Fr´echet distributions. The probability density function and cumulative distribution function of the Fr´echet distributions are substituted in the odd Chen generator of the distributions model to get the new and more flexible lifetime distribution for modelling real-life data. The authors reveal that the hazard rate of the odd Chen Fr´echet distributions is increasing. They also found that the odd Chen generator of distributions gives a much close fit than the Fr´echet Distribution (FD), Weibull distribution(WD), and exponential distribution (ED). In this study, a novel probability distribution is introduced. odd Chen generator of distributions is capable of modelling upside-down bathtub-shaped hazard rates. The model is appropriate to fit the asymmetrical data that are not correctly fitted by other distributions. The said distribution can be applied to different fields like insurance, earthquake data for analysis, reliability etc.