Bayesian Estimations of the Smaller and Larger for Two Pareto Scale Parameters
Jungsoo Woo, Changsoo Lee
Abstract
Jungsoo Woo, Changsoo Lee
Abstract
We shall derive Bayes estimators for he smaller and larger of two Pareto scale parameters with a common known shape parameter when the order of the scales is unknown and sample sizes are equal under squared error loss function. Also, we shall obtain biases and man squared errors for proposed Bayes estimators, and compare numerically performances for the proposed Bayes estimators.
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We shall derive Bayes estimators for he smaller and larger of two Pareto scale parameters with a common known shape parameter when the order of the scales is unknown and sample sizes are equal under squared error loss function. Also, we shall obtain biases and man squared errors for proposed Bayes estimators, and compare numerically performances for the proposed Bayes estimators.
Key concepts: Estimator, Bayes' theorem, Mathematics, Statistics, Mean squared error, Scale parameter, Bayes estimator, Scale (ratio)