Title of article :
Estimation of exponential Pareto parameters
Author/Authors :
Khatan Ismail, Suhair Institute of Administration Al Russafa - Middle Technical University, Baghdad, Iraq , AL-Sabbah, Shrook A. S. Department of Statistics - Administration and Economics College - Kerbala University, Iraq , Mahood Moahammed, Shaima College of Administration and Economic - University of Misan, Misan, Iraq , Mustafa Nassif, Montazer Department of Statistics - Administration and Economics College - Kerbala University, Iraq , Qasim Ramadan, Eqbal Department of Statistics - Administration and Economics College - Kerbala University, Iraq
Abstract :
In this paper, we simulated the methods of estimation of Pareto exponential distribution parameters, using various experiments including default parameter values (0.5, 1, 5), sample sizes (10,250,100), and Iterations (D = 1000). The Maximum likelihood method and the standard Bayes method were used with informative prior distribution (Gamma distribution) and the non-information prior distribution (Uniform distribution), and symmetric loss function (quadratic loss function), and asymmetric (General Entropy loss function). The Bayes method gave complex mathematical formulas that were solved by Lindley approximation. The results of the simulation experiments showed the advantage of the standard Bayes method in the information prior and the quadratic loss function.
Keywords :
exponential Pareto distribution , maximum likelihood , standard Bays method , Lindley approximation
Journal title :
International Journal of Nonlinear Analysis and Applications
