On shrinkage estimators for Pareto II parameters for complete data
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Keywords:
Bayes estimator, Lomax Distribution, Pareto DistributionType II, Maximum Likelihood Method, Monte Carlo simulation, Shrinkage Estimation, Mean Square Error.Abstract
Many different fields have found extensive use for the Pareto distributionType II. The Maximum Likelihood Method (ML), and Bayeswill all be used in this study to estimate the parameters of the Pareto distributionType II. Next, we will attempt to determine the parameter’s first shrinkage estimator for the estimators of the techniques we are investigating. This study’s primary goal is to provide two initial shrinkage estimator comparisons between two estimators: First, there is a shrinkage estimator between the maximum likelihood and the Bayes estimators; second, there is a shrinkage estimator between the first shrinkage estimator and the Bayes estimator. The performance of these estimators was examined using Monte Carlo simulation in order to determine which, as measured by the MSE criterion, one is the best.
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