 Estimation of the three parameter Weibull probability distributionHongzhu Qiao and Chris P. Tsokos Mathematics and Computers in Simulation (MATCOM), 1995, vol. 39, issue 1, 173-185 Abstract: The aim of the present paper is to propose an algorithm to easily obtain good estimates of the three parameter Weibull distribution. Our proposed procedure is given in eight steps and it depends on the Simple Iteration Procedure, which always converges, converges fast and does not depend on any conditions, whatsoever, that has been developed by the authors for the two parameter Weibull model. Numerical examples will be given to illustrate the effectiveness of our proposed statistical procedure. Finally, we address the issue of what we lose in characterizing the probabilistic behavior of a certain phenomenon with a two parameter Weibull model when in fact the true characterization calls for a three parameter Weibull model. We use the concept of percentiles, cumulative distribution function and graphical presentations to answer the above questions. Keywords: Two parameter Weibull distribution; Three parameter Weibull distribution; Newton-Raphson method; Simple Iterative Procedure (SIP); Maximum likelihood estimation (MLE); Percentile (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:matcom:v:39:y:1995:i:1:p:173-185 DOI: 10.1016/0378-4754(95)95213-5 Access Statistics for this article Mathematics and Computers in Simulation (MATCOM) is currently edited by Robert Beauwens More articles in Mathematics and Computers in Simulation (MATCOM) from Elsevier |
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