Comparative Study between Generalized Maximum Entropy and Bayes Methods to Estimate the Four Parameter Weibull Growth Model

Saifaldin Hashim Kamar and Basim Shlaibah Msallam

Journal of Probability and Statistics, 2020, vol. 2020, 1-7

Abstract:

The Weibull growth model is an important model especially for describing the growth instability; therefore, in this paper, three methods, namely, generalized maximum entropy, Bayes, and maximum a posteriori, for estimating the four parameter Weibull growth model have been presented and compared. To achieve this aim, it is necessary to use a simulation technique to generate the samples and perform the required comparisons, using varying sample sizes (10, 12, 15, 20, 25, and 30) and models depending on the standard deviation (0.5). It has been shown from the computational results that the Bayes method gives the best estimates.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnljps:7967345

DOI: 10.1155/2020/7967345

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