Abstract
A number of paired comparison (PC) models exists in the literature. In this paper, the posterior distribution of the parameters of the Rayleigh PC model is derived using informative prior: Conjugate and Dirichlet. The values of the hyperparameters are elicited using prior predictive distribution. The preferences for the data of cigarette brands: Goldleaf (GL), Marlboro (ML), Dunhill (DH) and Benson & Hedges (BH) are collected from university students. The posterior estimates of the parameters are obtained under the loss functions: Quadratic Loss Function (QLS), Weighted Loss Function (WLS)and Squared Error Loss Function (SELF) with their risks. The preference and predictive probabilities are calculated. The posterior probabilities, for the hypothesis of comparing two parameters are evaluated. The graphs of marginal posterior distributions are given. Appropriateness of the model is tested by Chi-Square.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
