Weibull Survival Model and Its Posterior Analysis

G. Venkatesan¹ , P. Saranya²

Section:Research Paper, Product Type: Isroset-Journal
Vol.5 , Issue.5 , pp.121-137, Oct-2018

CrossRef-DOI:   https://doi.org/10.26438/ijsrmss/v5i5.121137

Online published on Oct 31, 2018

Copyright © G. Venkatesan, P. Saranya . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
In this paper, the two parameter Weibull distribution is considered for estimating the Bayes risk of survival function assuming non-informative and informative priors such as Jeffrey’s, Extension of Jeffrey’s, Lognormal-Inverted Gamma and Gamma-Gamma using various type of loss functions with Squared error loss, Linex loss, General entropy loss, Quadratic loss, Weighted loss, Precautionary loss and Squared logarithmic loss. Posterior analysis done through estimating Bayes risk of survival function for combination of priors with loss functions. To illustrate the methodology, simulation study is carried out and done the parametric analysis.

Key-Words / Index Term :
Bayes risk, Weibull distribution, Squared error loss function, General entropy loss function, Linex loss function, Precautionary loss function, Quadratic loss function, Squared logarithmic loss function, Weighted loss

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