A Bivariate Pareto Distribution for Modeling Load Sharing Dependence

Usually in statistical modeling, one comes up with a model taking into consideration the physical aspects of the situation. In the present study we considered load sharing dependence in a two component parallel system. Though load sharing dependence is popular in reliability studies this dependence is common in socio-economic situations also. Freund (1961) has designed a bivariate exponential model for the life testing of a two component parallel system which incorporates the above said load-sharing dependence. If the operating environment affects both the components differently, then assuming a gamma distribution to model the environment, the above system reduces to assuming two independent Pareto II distributions instead of exponential distribution. Taking into consideration these assumptions we develop a new model which incorporates the load sharing dependence. This model finds application in the areas of survival analysis, reliability analysis and economics.

Autorentext

Dr. Jagathnath Krishna K.M. has obtained his Ph.D Degree in Statistics from Cochin University of Science and Technology, Cochin, Kerala, India on 2011. He has obtained his B.Sc and M.Sc Degree also in Statistics from University of Kerala, Thiruvananthapuram. He has several publications to his credit in various National and International Journals.