Comparison of different methods of parameters estimation for Pareto Model
Journal Title: Caspian Journal of Applied Sciences Research - Year 2013, Vol 2, Issue 1
Abstract
In this study, the scale and the shape parameters of the Pareto Distribution have been estimated using five different estimation techniques, namely Method of Moments, Maximum Likelihood Estimation, Fractional Moments, Probability Weighted Moments and Bayesian method. As a single choice of sample size and parameter point do not help to clarify performance of the methods, so different parameter points and different sample sizes are used. An extensive Monte Carlo simulation study has been conducted to investigate the performance of the estimators. The WinBUGS and R-Language are used to deal with numerical computations of estimates of parameters of Pareto distribution. The Bayesian method exhibits the minimum standard error with some exceptions.
Authors and Affiliations
Rizwan Munir, Muhammad Saleem, Sajid Ali
Keywords
Related Articles
- EP ID EP130400
- DOI -
- Views 99
- Downloads 0
Comparison of One-Dimensional HEC-RAS with Two-Dimensional ADH for Flow over Trapezoidal Profile Weirs
Two numerical models namely The U.S. Army Corps of Engineers River Analysis System (HEC-RAS) and The Adaptive Hydraulics (ADH) were evaluated and compared. The models were used to predict the water surface profile, deter...
The Response of Carbohydrate Oxidation Enzymes to the Controlled Atmosphere Storage (CAS) of the Mango Fruits (Mangifera Indica L.) cv Kate
A controlled atmosphere (CA) is an agricultural storage method which can control the atmosphere around the fruit. It is an atmosphere in which oxygen, carbon dioxide and nitrogen concentration as well as temperature and...
Integrated use of electromagnetic micro-projectile and Agrobacterium: Increase the efficiency of gene transfer to melon
Electromagnetic micro projectile machine was combinedly applied with Agrobacterium LBA4404 strain containing pBI121vector to increase gene transfer to melon (Cucumis melo cv.khatoni). A factorial experiment based o...
Re-submitted Chain ChSP-4(c1,c2) Sampling Plan
Vidya (2008) proposed the chain sampling plan ChSP-4 (c1,c2) and determined the plan parameters by minimizing the variance and VOQL. In this paper, ChSP-4 (c1,c2) plan is presented under the re-submitted sampling p...
Effect of Suspended Particles on the Onset of Thermal Convection in Compressible Elastico-Viscous Fluid in a Brinkman Porous Medium
In this paper, the effect of suspended particles on thermal convection in compressible elastico-viscous fluid in a porous medium is considered. For the porous medium, the Brinkman model is employed and Walters’ (Mo...