Abstract The paper shows that treating failure-free time in the three-parameter Weibull distribution not a constant, but as random variable makes resulting much more flexible at expense of only one additional parameter.

Purpose – This study aims to focus on asset management of large-scale information systems supporting infrastructures and especially seeks to address a methodology of their statistical deterioration prediction based on their historical inspection data. Information systems are composed of many devices. Deterioration process i.e. wear-out failure generation process of those devices is formulated b...

Ensuring a small enough failure probability is important for the design and selection of restorative dental ceramics. For this purpose, the two-parameter Weibull distribution, which is based on the weakest link model with infinitely many links, is usually adopted to model the strength distribution of dental ceramics. This distribution has been thoroughly validated for perfectly brittle material...

We introduce a flexible lifetime distribution called Burr III-Inverse Weibull (BIII-IW). The new proposed distribution has well-known sub-models. The BIII-IW density function includes exponential, left-skewed, right-skewed and symmetrical shapes. The BIII-IW model’s failure rate can be monotone and non-monotone depending on the parameter values. To show the importance of the BIII-IW distributio...

Trade duration and daily range data often exhibit asymmetric shape with long right tail. In analysing the dynamics of these positively valued time series under autoregressive conditional duration (ACD) models, the choice of the conditional distribution for innovations has posed challenges. A suitably chosen distribution, which is capable of capturing unique characteristics inherent in these dat...

Lifetime failure data usually presents a bathtub-shaped failure rate, and random failure phase dominates its life cycle. Relatively large errors always existed when single distribution model is used for analysis and modelling. Therefore, a bathtub-shaped reliability model based on piecewise intensity function was proposed for repairable system. Parameter estimation was studied by using maximum ...