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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/10668

Title: Comparison of estimates using record statistics from Weibull model: Bayesian and non-Bayesian approaches
Authors: Soliman, AA
Abd Ellah, AH
Sultan, KS
Keywords: asymmetric loss function (linear-exponential (LINEX)) loss function.
Issue Date: 2006
Publisher: COMPUTATIONAL STATISTICS & DATA ANALYSIS
Citation: Volume: 51 Issue: 3 Pages: 2065-2077
Abstract: This paper develops a Bayesian analysis in the context of record statistics values from the two-parameter Weibull distribution. The ML and the Bayes estimates based on record values are derived for the two unknown parameters and some survival time parameters e.g. reliability and hazard functions. The Bayes estimates are obtained based on a conjugate prior for the scale parameter and a discrete prior for the shape parameter of this model. This is done with respect to both symmetric loss function (squared error loss), and asymmetric loss function (linear-exponential (LINEX)) loss function. The maximum likelihood and the different Bayes estimates are compared via a Monte Carlo simulation study. A practical example consisting of real record values using the data from an accelerated test on insulating fluid reported by Nelson was used for illustration and comparison. Finally, Bayesian predictive density function, which is necessary to obtain bounds for predictive interval of future record is derived and discussed using a numerical example. The results may be of interest in a situation where only record values are stored.
URI: http://hdl.handle.net/123456789/10668
Appears in Collections:College of Science

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