New Approaches on Parameter Estimation of the Gamma Distribution

Xiao Ke, Sirao Wang, Min Zhou and Huajun Ye ()
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Xiao Ke: College of Big Data and Internet, Shenzhen Technology University, Shenzhen 518118, China
Sirao Wang: Faculty of Science and Technology, BNU-HKBU United International College, Zhuhai 519087, China
Min Zhou: Faculty of Science and Technology, BNU-HKBU United International College, Zhuhai 519087, China
Huajun Ye: Faculty of Science and Technology, BNU-HKBU United International College, Zhuhai 519087, China

Mathematics, 2023, vol. 11, issue 4, 1-15

Abstract: This paper discusses new approaches to parameter estimation of gamma distribution based on representative points. In the first part, the existence and uniqueness of gamma mean squared error representative points (MSE-RPs) are discussed theoretically. In the second part, by comparing three types of representative points, we show that gamma MSE-RPs perform well in parameter estimation and simulation. The last part proposes a new Harrel–Davis sample standardization technique. Simulation studies reveal that the standardized samples can be used to improve estimation performance or generate MSE-RPs. In addition, a real data analysis illustrates that the proposed technique yields efficient estimates for gamma parameters.

Keywords: parameter estimation; gamma distribution; representative points; mean squared error; quantile estimator (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
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