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Inverse unit exponential probability distribution: Classical and Bayesian inference with applications.
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- Author(s): Alsadat, Najwan1 (AUTHOR) ; Taniş, Caner2 (AUTHOR) ; Sapkota, Laxmi Prasad3 (AUTHOR) ; Kumar, Anoop4 (AUTHOR) ; Marzouk, Waleed5 (AUTHOR) ; Gemeay, Ahmed M.6 (AUTHOR)
- Source:
AIP Advances. May2024, Vol. 14 Issue 5, p1-19. 19p.- Subject Terms:
- Source:
- Additional Information
- Abstract: This article examines the new inverse unit exponential distribution, utilizing both classical and Bayesian methodologies; it begins by presenting the general properties of the proposed model, highlighting characteristic features, such as the presence of a reverse-J or increasing and inverted bathtub-shaped hazard rate function. Furthermore, it explores various statistical properties of the suggested distribution. It employs 12 methods to estimate the associated parameters. A Monte Carlo simulation is conducted to evaluate the accuracy of the estimation procedure. Even for small samples, the results indicate that biases and mean square errors decrease as the sample size increases, demonstrating the robustness of the estimation method. The application of the suggested distribution to real datasets is then discussed. Empirical evidence, using model selection criteria and goodness-of-fit test statistics, supports the assertion that the suggested model outperforms several existing models considered in the study. This article extends its analysis to the Bayesian framework. Using the Hamiltonian Monte Carlo with the no U-turn sampling algorithm, 8000 real samples are generated. The convergence assessment reveals that the chains are convergent and the samples are independent. Subsequently, using the posterior samples, the parameters of the proposed model are estimated, and credible intervals and highest posterior density intervals are computed to quantify uncertainty. The applicability of the suggested model to real data under both classical and Bayesian methodologies provides insights into its statistical properties and performance compared to existing models. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of AIP Advances is the property of American Institute of Physics and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Abstract:
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