Bayesian and non-Bayesian estimation of the Lomax model based on upper record values under weighted LINEX loss function
Abstract
In this article, we developed a new loss function, as the simplification of linear exponential loss function (LINEX) by weighting LINEX function. We derive a scale parameter, reliability and the hazard functions in accordance with upper record values of the Lomax distribution (LD). To study a small sample behavior performance of the proposed loss function using a Monte Carlo simulation, we make a comparison among maximum likelihood estimator, Bayesian estimator by means of LINEX loss function and Bayesian estimator using square error loss (SE) function. The consequences have shown that a modified method is the finest for valuing a scale parameter, reliability and hazard functions.
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PDFDOI: http://dx.doi.org/10.21533/pen.v8i3.1608
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Copyright (c) 2020 Fuad S. Al-Duais, Munaf Yousif Hmood
This work is licensed under a Creative Commons Attribution 4.0 International License.
ISSN: 2303-4521
Digital Object Identifier DOI: 10.21533/pen
This work is licensed under a Creative Commons Attribution 4.0 International License