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- Title
A COMPARISON OF PRIORS FOR THE PARAMETER OF THE TIME-TO-FAILURE MODEL.
- Authors
Tahir, M.; Saleem, M.
- Abstract
The objective of this study was to compare the Bayes estimates of the parameter of the time-to-failure model based on informative and non-informative priors. The Gamma distribution wasassumed as the informative conjugate prior while the Jeffreys prior was assumed as an uninformative prior. The comparison is based on the posterior variance, the Bayesian interval estimate, the coefficient of skewness of the posterior distribution and the Bayes posterior risk.
- Subjects
BAYESIAN analysis; STATISTICAL decision making; GAMMA (Electronic computer system); PROBABILITY theory; ESTIMATES
- Publication
Pakistan Journal of Science, 2011, Vol 63, Issue 1, p50
- ISSN
0030-9877
- Publication type
Article