LINEX AND QUADRATIC APPROXIMATE BAYES ESTIMATORS APPLIED TO THE PARETO MODEL

Abstract

This paper develops approximate Bayes estimators of the two parameters, reliability, and failure rate functions for the Pareto failure model by using the methods of Lindley based on complete and type-II censored samples. A new bivariate prior density for the parameters, quadratic loss and LINEX loss functions are used, a numerical example is presented. The statistical performances of the Bayes estimates relative to quadratic and LINEX loss functions are compared to those of the maximum likelihood ones through the (RMSE) based on simulation study.