Bayesian estimation of inverse weibull distribution scale parameter under the different loss functions

KÖKSAL BABACAN E.

Sigma Journal of Engineering and Natural Sciences, vol.42, no.4, pp.1108-1115, 2024 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: 42 Issue: 4
  • Publication Date: 2024
  • Doi Number: 10.14744/sigma.2024.00091
  • Journal Name: Sigma Journal of Engineering and Natural Sciences
  • Journal Indexes: Emerging Sources Citation Index (ESCI), Scopus, Academic Search Premier, Directory of Open Access Journals
  • Page Numbers: pp.1108-1115
  • Keywords: Bayesian Estimation, Inverse Weibull Distribution, Loss Function
  • Ankara University Affiliated: Yes

Abstract

In this paper, the Bayesian estimators for the Inverse Weibull Distribution (IWD) scale parameter are derived when the shape parameter of distribution is known. The Bayesian estimators for the parameter are obtained by using the Gamma prior under the different types of loss functions such as square error loss function (Self), Entropy loss function (Elf), Precautionary loss function (Plf), Linear exponential loss function (Linexlf) and nonlinear exponential loss function (Nlinexlf). A classical maximum likelihood estimator (mle) for the parameter is also derived. To compare the efficiency of the parameter estimation methods, a simulation study is carried out. The comparison is based on mean square error.