Minimum Expected Loss Estimators of the Shape & Scale Parameters of the Weibull Distribution

The shape and scale parameters of the Weibull distribution are estimated by assuming a weighted squared-error loss function and minimizing the corresponding expected loss with respect to a given posterior distribution. These estimators are called minimum expected loss (MELO). The inverse square form of the weighting function is assumed to demonstrate how it can be applied to find the MELO estimators. We have obtained the corresponding Bayes, Bayes maximum likelihood, and the classical maximum likelihood estimators; we compare them with MELO estimators.