Title : ( Bayesian analysis for the two-parameter Pareto distribution based on record values and times )
Authors: Mahdi Doostparast , Mohammad Ghasem Akbari , N. Balakrishnan ,
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Abstract
Doostparast and Balakrishnan (2010) recently developed optimal confidence intervals as well as uniformly most powerful tests for one- and two-sided hypotheses concerning shape and scale parameters, for the two-parameter Pareto distribution based on record data. In this paper, on the basis of record values and inter-record times from the two-parameter Pareto distribution, maximum likelihood and Bayes estimators as well as credible regions are developed for the two parameters of the Pareto distribution. For illustrative purpose, a data set on annual wages of a sample of production-line workers in a large industrial firm is analyzed using the proposed procedures.
Keywords
, Admissibility; Credible region; Highest posterior density; Inter, record times; Likelihood estimate; Linear, exponential loss function; Pareto distribution; Record values; Record times.
@article{paperid:1019134,
author = {Doostparast, Mahdi and Mohammad Ghasem Akbari and N. Balakrishnan},
title = {Bayesian analysis for the two-parameter Pareto distribution based on record values and times},
journal = {Journal of Statistical Computation and Simulation},
year = {2011},
volume = {81},
number = {11},
month = {November},
issn = {0094-9655},
pages = {1393--1403},
numpages = {10},
keywords = {Admissibility; Credible region;
Highest posterior density; Inter-record times; Likelihood
estimate; Linear-exponential loss function; Pareto distribution; Record values; Record times.},
}
%0 Journal Article
%T Bayesian analysis for the two-parameter Pareto distribution based on record values and times
%A Doostparast, Mahdi
%A Mohammad Ghasem Akbari
%A N. Balakrishnan
%J Journal of Statistical Computation and Simulation
%@ 0094-9655
%D 2011
