Bayes linear kinematics in the analysis of failure rates and failure time distributions

K J Wilson and M Farrow

Journal of Risk and Reliability, 2010, vol. 224, issue 4, 309-321

Abstract: Abstract Collections of related Poisson or binomial counts arise, for example, from a number of different failures in similar machines or neighbouring time periods. A conventional Bayesian analysis requires a rather indirect prior specification and intensive numerical methods for posterior evaluations. An alternative approach using Bayes linear kinematics in which simple conjugate specifications for individual counts are linked through a Bayes linear belief structure is presented. Intensive numerical methods are not required. The use of transformations of the binomial and Poisson parameters is proposed. The approach is illustrated in two examples, one involving a Poisson count of failures, the other involving a binomial count in an analysis of failure times.

Keywords: Bayesian inference; Bayes linear kinematics; count data; failure rates; failure times (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:sae:risrel:v:224:y:2010:i:4:p:309-321

DOI: 10.1243/1748006XJRR293

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