Estimating Two Parameters of Lomax Distribution by Using the Upper Recorded Values under Two Balanced Loss Functions
AbstractIn this paper, two lomax distribution parameters are estimated along with the estimation of the reliability function under two balanced loss functions: the balanced squared error function and balanced linex loss function. These two functions depend on both Bayesian and maximum likelihood estimators using one type of generalized order statistics, which is the upper recorded values.
The simulation approach using matlab language program is adopted in order to generate the data and compute the estimators.
The comparison between shape parameter ( ) estimation methods is done by using posterior Bayesian risk function. The findings show that the estimators under two balanced loss functions are more efficient than the estimators under the two ordinary loss functions .
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