Author(s):
1. Afaq Ahmad:
Department of Mathematical Sciences Islamic University of Science and Technology, Awantipoora, Kashmir, Pakistan
2. S.P Ahmad:
Department of Statistics University of Kashmir, Srinagar
Abstract:
In this article we propose a new weighted version of inverse Gamma distribution known as Weighted Inverse Gamma distribution (WIGD). We examine the Length biased and Area biased versions of Weighted Inverse Gamma distribution. Basic structural properties viz moments, mode, moment generating function (mgf), characteristic function (cf), hazard rate function and measures of uncertainty. The parameters of this model are estimated from both classical (namely, maximum likelihood estimator and method of moments, and compare them by using extensive numerical simulations) and Bayesian point of view. The Bayes estimates are estimated by using non-informative Jeffrey's prior and informative Inverse Chi square prior under different types of loss function (symmetric and asymmetric loss functions). Finally, a simulation study has been conducted for comparing weighted inverse gamma distribution with other competing distributions.
Page(s):
25-37
DOI:
DOI not available
Published:
Journal: Pakistan Journal of Statistics and Operation Research, Volume: 15, Issue: 1, Year: 2019
Keywords:
entropy
,
Moments
,
maximum likelihood estimator
,
Hazard rate
,
Inverse gamma distribution
,
Moment estimator
References:
References are not available for this document.
Citations
Citations are not available for this document.