On the Log-Gamma Exponentiated Weibull Regression Model: An Application to Recurrence of Bank Failure in Nigeria

Abstract

In this paper, the log-gamma exponentiated Weibull distribution, a modified version of exponentiated Weibull distribution was developed with a view to model recurrence of bank failure in Nigeria. The new distribution is a generalization of the Weibull, Exponentiated Weibull and Exponentiated exponential distribution. The statistical properties of the new distribution are discussed. These include the moments, moment generating function, binomial series expansion and distribution of the order statistics. The proposed distribution will be a very useful alternative to well known distribution for failure time data analysis. A regression model based on the new distribution to predict recurrence of bank failure (after recent bank reform in Nigeria) taking into consideration certain bank characteristics as covariates was also constructed.