Abstract
This paper introduces a novel alpha power exponentiated Weibull-Pareto distribution based on the alpha power transformation. We derive several properties of the new distribution, including moments, quantile function, mean residual life, mean waiting time, and order statistics. Estimating model parameters is performed using the method of maximum likelihood. Then, for the purpose of evaluating the effectiveness of the estimates, we conduct some simulation studies. Finally, we demonstrate the superiority of this new model by analyzing three real-life data sets.