A Comparative Study of Maximum Likelihood Estimation and Bayesian Estimation for Erlang Distribution and Its Applications

Kaisar Ahmad and Sheikh Parvaiz Ahmad

A chapter in Statistical Methodologies from IntechOpen

Abstract: In this chapter, Erlang distribution is considered. For parameter estimation, maximum likelihood method of estimation, method of moments and Bayesian method of estimation are applied. In Bayesian methodology, different prior distributions are employed under various loss functions to estimate the rate parameter of Erlang distribution. At the end the simulation study is conducted in R-Software to compare these methods by using mean square error with varying sample sizes. Also the real life applications are examined in order to compare the behavior of the data sets in the parametric estimation. The comparison is also done among the different loss functions.

Keywords: Erlang distribution; prior distributions; loss functions; simulation study; applications (search for similar items in EconPapers)
JEL-codes: C10 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:176425

DOI: 10.5772/intechopen.85627

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