2021/03/15 by Subhankar Dutta, Dutta, Subhankar, Suchandan Kayal +1
Decision Sciences · Economics, Econometrics and Finance · Mathematics · #62F10 #62F15 #62N02 #FOS: Computer and information sciences #Financial Risk and Volatility Modeling #Methodology (stat.ME) #Probability and Risk Models #Statistical Distribution Estimation and Applications
paper · pdf · doi:10.48550/arxiv.2103.08641
openalex publication_date 2021/03/15 · openalex created_date 2021/03/29 · openalex updated_date 2026/07/28
In this paper, we investigate the classical and Bayesian estimation of unknown parameters of the Gumbel type-II distribution based on adaptive type-II progressive hybrid censored sample (AT-II PHCS). The maximum likelihood estimates (MLEs) and maximum product spacing estimates (MPSEs) are developed and computed numerically using Newton-Raphson method. Bayesian approaches are employed to estimate parameters under symmetric and asymmetric loss functions. Bayesian estimates are not in explicit forms. Thus, Bayesian estimates are obtained by using Markov chain Monte Carlo (MCMC) method along with the Metropolis-Hastings (MH) algorithm. Based on the normality property of MLEs the asymptotic confidence intervals are constructed. Also, bootstrap intervals and highest posterior density (HPD) credible intervals are constructed. Further a Monte Carlo simulation study is carried out. Finally, the data set based on the death rate due to Covid-19 in India is analyzed for illustration of the purpose.