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A study on exponentiated Gompertz distribution under Bayesian discipline using informative priors

Author

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  • Aslam Muhammad

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

  • Afzaal Mehreen

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

  • Ishaq Bhatti M.

    (La Trobe Business School, La Trobe University, Australia .)

Abstract

The exponentiated Gompertz (EGZ) distribution has been recently used in almost all areas of human endeavours, starting from modelling lifetime data to cancer treatment. Various applications and properties of the EGZ distribution are provided by Anis and De (2020). This paper explores the important properties of the EGZ distribution under Bayesian discipline using two informative priors: the Gamma Prior (GP) and the Inverse Levy Prior (ILP). This is done in the framework of five selected loss functions. The findings show that the two best loss functions are the Weighted Balance Loss Function (WBLF) and the Quadratic Loss Function (QLF). The usefulness of the model is illustrated by the use of real-life data in relation to simulated data. The empirical results of the comparison are presented through a graphical illustration of the posterior distributions.

Suggested Citation

  • Aslam Muhammad & Afzaal Mehreen & Ishaq Bhatti M., 2021. "A study on exponentiated Gompertz distribution under Bayesian discipline using informative priors," Statistics in Transition New Series, Polish Statistical Association, vol. 22(4), pages 101-119, December.
    • Handle: RePEc:vrs:stintr:v:22:y:2021:i:4:p:101-119:n:3
    DOI: 10.21307/stattrans-2021-040
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    References listed on IDEAS

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    1. Chaturvedi, Anoop & Gupta, Suchita & Bhatti, M. Ishaq, 2012. "Confidence ellipsoids based on a general family of shrinkage estimators for a linear model with non-spherical disturbances," Journal of Multivariate Analysis, Elsevier, vol. 104(1), pages 140-158, February.
    2. Shrivastava, Arvind & Chaturvedi, Anoop & Bhatti, M. Ishaq, 2019. "Robust Bayesian analysis of a multivariate dynamic model," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 528(C).
    3. Josmar Mazucheli & André Felipe Menezes & Sanku Dey, 2019. "Unit-Gompertz Distribution with Applications," Statistica, Department of Statistics, University of Bologna, vol. 79(1), pages 25-43.
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