Bayesian Analysis of Extended Lomax Distribution
Journal Title: INTERNATIONAL JOURNAL OF MATHEMATICS TRENDS AND TECHNOLOGY - Year 2014, Vol 7, Issue 1
Abstract
In this paper, the Markov chain Monte Carlo (MCMC) method is used to estimate the parameters of Extended Lomax distribution, based on a complete sample. The proposed methodology can be used to obtain the Bayes estimates the parametric function such as reliability function, hazard function, etc under different loss functions and is also suitable for empirical modeling. A real data set is considered for illustration under non-informative and informative set of priors.
Authors and Affiliations
Shankar Kumar Shrestha , Vijay Kumar
Keywords
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