Open AccessBayesian Estimation of Weighted Inverse Maxwell Distribution under Different Loss Functions
Author(s) -
Adeel Ahmad,
Rajnee Tripathi
Publication year - 2021
Publication title -
earthline journal of mathematical sciences
Language(s) - English
Resource type - Journals
ISSN - 2581-8147
DOI - 10.34198/ejms.8122.189203
Subject(s) - estimator , mathematics , bayesian probability , bayes estimator , mean squared error , prior probability , inverse , statistics , inverse gamma distribution , asymptotic distribution , geometry , normal gamma distribution
In this study, the shape parameter of the weighted Inverse Maxwell distribution is estimated by employing Bayesian techniques. To produce posterior distributions, the extended Jeffery's prior and the Erlang prior are utilised. The estimators are derived from the squared error loss function, the entropy loss function, the precautionary loss function, and the Linex loss function. Furthermore, an actual data set is studied to assess the effectiveness of various estimators under distinct loss functions.