Abstract

The objective of this article is to compare highest posterior density (HPD) credible interval with three bootstrap confidence intervals (BCIs) as well as with asymptotic confidence interval (ACI) using maximum likelihood and Bayesian approaches of a new process capability index, Spmk when the underlying distribution is generalized exponential. This new index can be used for normal as well as non-normal quality characteristics. Through extensive simulation studies and with two real life examples related to industry data, we compare the performances of classical and the Bayes estimates based on different loss functions and compared among the HPD credible intervals, three BCIs and ACIs in terms of coverage probabilities, average width, and respective relative coverages of the index Spmk , respectively.

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.