Open Access Open Access  Restricted Access Subscription or Fee Access

Inferences Using Lower Record Values of Inverted Exponentiated Pareto Distribution

Fahmeeda F. Shaikh, M. N. Patel

Abstract




This article presents the classical and Bayesian inferences for the inverted exponentiated Pareto (IEP) distribution assuming lower record values. We first derive the expression for r-th row moment of m-th lower record and then use these results to compute the means, variances , skewnesses and kurtosises for the lower records. Next we consider maximum likelihood and Bayes estimations of the parameters of the IEP distribution. Under these approaches asymptotic confidence intervals and Bayes credible interval estimates of the parameters are also obtained. The Bayes estimation is studied under squared error loss function as well as LINEX loss function. Finally, we compute predictive estimates and predictive interval estimates for the future lower record values using classical and Bayesian approaches. We have used an importance sampling method in Bayesian setup. Moreover, a comparison between classical and Bayesian approaches is also done using simulations. Besides the simulation study, a real data set is considered to show the application of the study.

Keywords


Moments of record values; classical and Bayes estimation; gamma priors; credible interval; importance sampling; prediction

Full Text:

PDF


Disclaimer/Regarding indexing issue:

We have provided the online access of all issues and papers to the indexing agencies (as given on journal web site). It’s depend on indexing agencies when, how and what manner they can index or not. Hence, we like to inform that on the basis of earlier indexing, we can’t predict the today or future indexing policy of third party (i.e. indexing agencies) as they have right to discontinue any journal at any time without prior information to the journal. So, please neither sends any question nor expects any answer from us on the behalf of third party i.e. indexing agencies.Hence, we will not issue any certificate or letter for indexing issue. Our role is just to provide the online access to them. So we do properly this and one can visit indexing agencies website to get the authentic information.