Bayesian inference of Weibull distribution based on probability encoding method

Weibull distribution has been widely used in practical reliability engineering due to its flexibility of capturing various characteristics of failure data and trend. Many methods have been introduced to deal with the parameters estimation of Weibull distribution. In this paper, Bayesian method integrated with the probability encoding method is proposed to estimate the unknown parameters of Weibull distribution. The probability encoding method is capability of eliciting the prior distribution of Bayesian inference by transforming the subjective information from experts´ judgments. The unknown parameters of Weibull distribution, therefore, can be inferred by combining both field data and the derived prior information. Demonstrated by the case study, the proposed method is able to handle the subjective information in a proper and effective manner.