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Statistical Analysis of Location Parameter of Inverse Gaussian Distribution Under Noninformative Priors

Author

Listed:
  • Khan, Nida

    (Department of Statistics, Quaid-i-Azam University, Islamabad, Pakistan)

  • Aslam, Muhammad

    (Department of Mathematics and Statistics, Riphah International University, Islamabad, Pakistan.)

Abstract

Bayesian estimation for location parameter of the inverse Gaussian distribution is presented in this paper. Noninformative priors (Uniform and Jeffreys) are assumed to be the prior distributions for the location parameter as the shape parameter of the distribution is considered to be known. Four loss functions: Squared error, Trigonometric, Squared logarithmic and Linex are used for estimation. Bayes risks are obtained to find the best Bayes estimator through simulation study and real life data.

Suggested Citation

  • Khan, Nida & Aslam, Muhammad, 2019. "Statistical Analysis of Location Parameter of Inverse Gaussian Distribution Under Noninformative Priors," Journal of Quantitative Methods, University of Management and Technology, Lahore, Pakistan, vol. 3(2), pages 62-76.
    • Handle: RePEc:ris:jqmumt:0028
    as

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    File URL: https://ojs.umt.edu.pk/index.php/jqm/article/view/101
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    References listed on IDEAS

    as
    1. Sanaa Ismail & Hesham Auda, 2006. "Bayesian and fiducial inference for the inverse gaussian distribution via Gibbs sampler," Journal of Applied Statistics, Taylor & Francis Journals, vol. 33(8), pages 787-805.
    2. Unknown, 1986. "Letters," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 1(4), pages 1-9.
    3. Sinha, S. K., 1986. "Bayesian estimation of the reliability function of the inverse gaussian distribution," Statistics & Probability Letters, Elsevier, vol. 4(6), pages 319-323, October.
    4. Tiefeng Ma & Shuangzhe Liu & S. Ahmed, 2014. "Shrinkage estimation for the mean of the inverse Gaussian population," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 77(6), pages 733-752, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Bayesian estimation; noninformative prior; Jeffreys prior; loss function; Bayes estimator; Bayes risk; simulation study;
    All these keywords.

    JEL classification:

    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General

    Statistics

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