Posterior analysis of the compound Rayleigh distribution under balanced loss functions for censored data

D. R. Barot and M. N. Patel

Communications in Statistics - Theory and Methods, 2017, vol. 46, issue 3, 1317-1336

Abstract: This paper develops Bayesian analysis in the context of progressively Type II censored data from the compound Rayleigh distribution. The maximum likelihood and Bayes estimates along with associated posterior risks are derived for reliability performances under balanced loss functions by assuming continuous priors for parameters of the distribution. A practical example is used to illustrate the estimation methods. A simulation study has been carried out to compare the performance of estimates. The study indicates that Bayesian estimation should be preferred over maximum likelihood estimation. In Bayesian estimation, the balance general entropy loss function can be effectively employed for optimal decision-making.

Date: 2017
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Citations: View citations in EconPapers (3)

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DOI: 10.1080/03610926.2015.1019140

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