Journal of the Korean Data and Information Science Society

The Korean Data and Information Science Society (한국데이터정보과학회)
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Estimation based on lower record values from exponentiated Pareto distribution

  • Yoon, Sanggyeong (Department of Statistics, Pusan National University) ;
  • Cho, Youngseuk (Department of Statistics, Pusan National University) ;
  • Lee, Kyeongjun (Department of Computer Science and Statistics, Daegu University, Daegu University & Institute of Basic Science, Deagu University)
  • Received : 2017.09.04
  • Accepted : 2017.09.21
  • Published : 2017.09.30
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Abstract

In this paper, we aim to estimate two scale-parameters of exponentiated Pareto distribution (EPD) based on lower record values. Record values arise naturally in many real life applications involving data relating to weather, sport, economics and life testing studies. We calculate the Bayesian estimators for the two parameters of EPD based on lower record values. The Bayes estimators of two parameters for the EPD with lower record values under the squared error loss (SEL), linex loss (LL) and entropy loss (EL) functions are provided. Lindley's approximate method is used to compute these estimators. We compare the Bayesian estimators in the sense of the bias and root mean squared estimates (RMSE).

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