Bayes Risk Analysis of Weibull Survival Model Using Informative Priors

  • P.Saranya, Dr.G.Venkatesan

Abstract

In this paper, two parameter Weibull distribution is considered and the Bayes risk of survival function is obtained by assuming informative priors such as Lognormal-Inverted Gamma and Extended Inverse Gamma-Extended Inverse Gamma using various types of loss functions as Quadratic loss, Weighted loss, Precautionary loss and Squared Logarithmic loss. To illustrate the methodology, simulation study is carried out and done the Bayesian parametric analysis.

Published
2020-05-01
How to Cite
P.Saranya, Dr.G.Venkatesan. (2020). Bayes Risk Analysis of Weibull Survival Model Using Informative Priors. International Journal of Advanced Science and Technology, 29(06), 4814 - 4824. Retrieved from https://sersc.org/journals/index.php/IJAST/article/view/19404