Title :
Empirical Bayes Approach to Reliability Estimation for the Exponential Distribution
Author_Institution :
Department of Mathematics; Rutgers University; Camden, NJ 08102 USA.
Abstract :
In the empirical Bayes (EB) approach to a reliability estimation for the exponential distribution, a prior distribution is placed on the family of prior gamma distributions to produce an EB estimator. The EB estimator is asymptotically optimal and admissible. The results of a Monte Carlo study are presented to demonstrate the favorable risk behavior of the EB estimator as a Bayes estimator if the sample size is large.
Keywords :
Bayesian methods; Decision theory; Exponential distribution; Life estimation; Lifetime estimation; Maximum likelihood estimation; Monte Carlo methods; Probability; Reliability theory; Statistical distributions; Admissibility; Asymptotic optimality; Empirical Bayes;
Journal_Title :
Reliability, IEEE Transactions on
DOI :
10.1109/TR.1984.5221797
