Bayesian estimation and prediction for some life distributions based on record values
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Some statistical data are most easily accessed in terms of record values. Examples include meteorology, hydrology and athletic events. Also, there are a number of industrial situations where experimental outcomes are a sequence of record-breaking observations. In this paper, Bayesian estimation for the two parameters of some life distributions, including Exponential, Weibull, Pareto and Burr type XII, are obtained based on upper record values. Prediction, either point or interval, for future upper record values is also presented from a Bayesian view point. Some of the non-Bayesian results can be achieved as limiting cases from our results. Numerical computations are given to illustrate the results.
Key wordsBayesian inference Beta function Conjugate prior Gamma distribution Jefferys prior Pivotal quantity
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