Bayesian Testing for the Equality of Two Lognormal Populations with the fractional Bayes factor
Kyoung-Ae Moon, Dal-Ho Kim
Abstract
Kyoung-Ae Moon, Dal-Ho Kim
Abstract
We propose the Bayesian testing for the equality of two Lognormal population means. Specially we use the fractional Bayesian factors suggested by O'Hagan (1995) based on the noninformative priors for the parameters. In order to investigate the usefulness of the proposed Bayesian testing procedures, we compare it with classical tests via both real data analysis and simulations.
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We propose the Bayesian testing for the equality of two Lognormal population means. Specially we use the fractional Bayesian factors suggested by O'Hagan (1995) based on the noninformative priors for the parameters. In order to investigate the usefulness of the proposed Bayesian testing procedures, we compare it with classical tests via both real data analysis and simulations.
Key concepts: Bayes factor, Bayesian probability, Prior probability, Mathematics, Log-normal distribution, Bayesian average, Statistics, Bayes' theorem