A Comparison of Bayesian and Classical Approach for Estimating the Parameter of Rayleigh Distribution
[1]
Janardan Mahanta, Department of Statistics, University of Chittagong, Chittagong, Bangladesh.
[2]
Mst. Bilkis Ara Talukdar, Department of Statistics, University of Chittagong, Chittagong, Bangladesh.
This paper focuses on the estimating the parameter of Rayleigh distribution (special case of Weibull distribution) by Bayesian approach as well as classical maximum likelihood method. In Bayesian approach loss function is the most ingredient part. Squared error (SE), LINEX, MLINEX loss functions have been used in Bayesian approach. The performance of the obtained estimators for different types of loss functions are then compared among themselves as well as with the classical maximum likelihood estimator. Better result has been observed by Bayesian approach under MLINEX loss function. Mean Square Error (MSE) of the estimators are also computed and presented in graphs.
Maximum Likelihood Estimator (MLE), Modified Linear Exponential (MLINEX) Loss Function, Linear Exponential (LINEX) Loss Function, Squared Error Loss Function (SE)
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