Abstract
This paper investigates E-Bayesian estimation for the Weighted Power Function Distribution (WPFD), a modified version of the Power Function distribution which is widely applied in biosciences and engineering. Three distinct priors for hyper-parameters are considered, and E-posterior risks are derived using squared error, entropy (measuring uncertainty), and precautionary loss functions (penalizing extreme deviations). Properties of the E-Bayesian estimators are analyzed, supplemented by a simulation study and real data application. Results indicate that E-Bayesian estimators outperform Bayesian counterparts in terms of E-posterior risk, as demonstrated in simulation studies.
Acknowledgements
The authors would like to thank the associate editor, editor-in-chief, and anonymous referees for their constructive comments and suggestions that improved the content and the style of this article.
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Articles in the same Issue
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- Profit and Reliability Analysis of a Gas Production Unit with the Concept of Optimal Age Replacement Policy: A Copula Approach
- A Comprehensive Analysis Using Maximum Likelihood Estimation and Artificial Neural Networks for Modeling Arthritic Pain Relief Data
- A Comparative Study of Six Process Capability Indices and Their Applications to Electronic and Food Industries
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- E-Bayesian Estimation of the Weighted Power Function Distribution with Application to Medical Data
- Comparing Ridge Regression Estimators: Exploring Both New and Old Methods