We propose a
new distribution with extra shape parameter named a truncated quasi Lindley
distribution which is more flexible than many well-known distributions.
Mathematical and statistical properties of truncated quasi Lindley distribution
are given only for upper truncated version of quasi Lindley distribution to
reduce the mathematical complexity. An important property of the upper
truncated quasi Lindley distribution is that it can have bathtub-shaped failure
rate function. We present some of its mathematical properties including
ordinary moments, quantile and moment generating functions, order statistics.
The method of maximum likelihood to estimate the model parameters is discussed
and the behavior of maximum likelihood estimator is studied. The importance of
the new distribution is illustrated by means of the wind speed data and the
capability in modeling wind speed is evaluated. The results indicate that the
truncated version of quasi Lindley distribution can provide better fits than
Exponential, Lindley, quasi Lindley and Weibull distributions in estimating
wind speed distribution. Therefore, truncated quasi Lindley can be an
alternative for use in the assessment of wind energy potential.