Abstract

Point prediction of future record values from a sequence of independent and identically distributed Pareto and Lomax random variables is addressed. The focus is on likelihood-based prediction techniques; in particular, the maximum likelihood as well as the maximum observed likelihood prediction principles are invoked to derive predictors. Pitman closeness criterion is used for comparing the prediction procedures, which are applied to real data. Moreover, one-sided prediction intervals are also addressed.

Full Text
Paper version not known

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 call

Disclaimer: 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.