Bayesian estimation of inverse weibull distribution scale parameter under the different loss functions

Year 2024, Volume: 42 Issue: 4, 1108 - 1115, 01.08.2024

Esin Köksal Babacan

Abstract

In this paper, the Bayesian estimators for the Inverse Weibull Distribution (IWD) scale param-eter are derived when the shape parameter of distribution is known. The Bayesian estimators for the parameter are obtained by using the Gamma prior under the different types of loss functions such as square error loss function (Self), Entropy loss function (Elf), Precautionary loss function (Plf), Linear exponential loss function (Linexlf) and nonlinear exponential loss function (Nlinexlf). A classical maximum likelihood estimator (mle) for the parameter is also derived. To compare the efficiency of the parameter estimation methods, a simulation study is carried out. The comparison is based on mean square error.

Keywords

Bayesian Estimation, Inverse Weibull Distribution, Loss Function

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