Bayesian Analysis of five Exponentiated Distributions under different Priors and loss functions
Bayesian Analysis
Exponentiated (Weibull
Exponential
Inverted Weibull
Pareto
Gumbel) distrebutions
simulation
The paper is concerned with posterior analysis of five exponentiated (Weibull, Exponential, Inverted Weibull, Pareto, Gumbel) distrebutions. The expressions for Bayes estimators of the shape parameters have been derived under four different prior distributions assuming four different loss functions. The posterior predictive distributions have been obtained, and the comparison between estimators made by using the mean squared errors through generated different sample sizes by using simulation technique. In general, the performance of estimators under Chi-square prior using squared error loss function is the best.