Abstract
In this article we have proposed the simple method of construction of an exact Prediction Interval (PI) for a single future observation from Weibull distribution. The method is based on a proposed simple pivotal statistic, assuming that the Weibull shape parameter is known. A simulation study is carried out by MATLAB, R 2012a. A simulation based comparison reveals that the proposed PI has smallest expected lengths for smaller shape parameter and percentage coverage is round about 95% than the existing ones for all sample sizes. Furthermore, it is computationally much simpler than most existing methods, which is an added advantage for non-statistical users. Application of the proposed PI to real data set is presented.
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Authors are highly grateful to the learned referee for his valuable suggestions to improve the quality of this paper.
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Mirajkar, R.M., Kore, B.G. (2018). On Construction of Prediction Interval for Weibull Distribution. In: Chattopadhyay, A., Chattopadhyay, G. (eds) Statistics and its Applications. PJICAS 2016. Springer Proceedings in Mathematics & Statistics, vol 244. Springer, Singapore. https://doi.org/10.1007/978-981-13-1223-6_4
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DOI: https://doi.org/10.1007/978-981-13-1223-6_4
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