COMPARISON OF PARAMETER ESTIMATION METHODS IN WEIBULL DISTRIBUTION

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Sigma Mühendislik ve Fen Bilimleri Dergisi
Volume:38 Issue:3
COMPARISON OF PARAMETER ESTIMATION METHODS IN WEIBULL DISTRIBUTION

COMPARISON OF PARAMETER ESTIMATION METHODS IN WEIBULL DISTRIBUTION

Authors : Esin KÖKSAL BABACAN, Samet KAYA

Pages : 1609-1621

View : 38 | Download : 6

Publication Date : 2021-10-05

Article Type : Research Paper

Abstract :The main objective of this study is to compare the parameter estimation methods for Weibull distribution. We consider maximum likelihood and Bayes estimation methods for the scale and shape parameters of Weibull distribution. While computing the Bayes estimates for a Weibull distribution, the continuous conjugate joint prior distribution of the shape and scale parameters does not exist and the closed form expressions of the Bayes estimators cannot be obtained. In this study, we assume that the scale and shape parameters have the exponential prior and they are independently distributed. We use the Lindley approximation and the Markov Chain Monte Carlo insert ignore into journalissuearticles values(MCMC); method to obtain the approximate Bayes estimators. In simulation study we compare the effectiveness of the parameter estimation methods with Monte Carlo simulations.
Keywords : Weibull distribution, bayes estimator, lindley approximation, Monte Carlo simulation, MCMC

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