Open AccessBayes approach to study shape parameter of Frechet distribution
Author(s) -
Wajiha Nasir,
Muhammad Aslam
Publication year - 2015
Publication title -
international journal of basic and applied sciences
Language(s) - English
Resource type - Journals
ISSN - 2227-5053
DOI - 10.14419/ijbas.v4i3.4644
Subject(s) - hyperparameter , bayes' theorem , mathematics , estimator , gumbel distribution , bayes estimator , posterior probability , bayesian probability , bayes factor , prior probability , statistics , monte carlo method , posterior predictive distribution , bayesian hierarchical modeling , bayesian inference , algorithm , bayesian linear regression , extreme value theory
In this paper, Frechet distribution under Bayesian paradigm is studied. Posterior distributions are derived by using Gumbel Type-II and Levy prior. Quadrature numerical integration technique is utilized to solve posterior distribution. Bayes estimators and their risks have been obtained by using four loss functions. Prior predictive distributions are derived for elicitation of hyperparameters. The performance of Bayes estimators are compared by using Monte Carlo simulation study.