We introduce a three-parameter extension of the exponential distribution
which contains as sub-models the exponential, logistic-exponential
and Marshall-Olkin exponential distributions. The new model is very
flexible and its associated density function can be decreasing or unimodal.
Further, it can produce all of the four major shapes of the hazard
rate, that is, increasing, decreasing, bathtub and upside-down bathtub.
Given that closed-form expressions are available for the survival and
hazard rate functions, the new distribution is quite tractable. It can
be used to analyze various types of observations including censored
data. Computable representations of the quantile function, ordinary
and incomplete moments, generating function and probability density
function of order statistics are obtained. The maximum likelihood
method is utilized to estimate the model parameters. A simulation
study is carried out to assess the performance of the maximum
likelihood estimators. Two actual data sets are used to illustrate the
applicability of the proposed model.
1.