Pareto analysis for the lifetime performance index of products on the basis of progressively first-failure-censored batches under balanced symmetric and asymmetric loss functions |
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Authors: | Mohammad Vali Ahmadi |
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Institution: | Department of Statistics, University of Bojnord, Bojnord, Iran |
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Abstract: | One of the most important topics in manufacturing industries is the evaluation of performance lifetimes of products. Based on a given lifetime performance index, this paper deals with evaluating the performance of a process subject to a given lower specification limit. We confine ourselves to the progressively first-failure-censored data coming from a common Pareto distribution. With both the Bayesian and the non-Bayesian approaches being investigated here, we pay more attention to Bayesian estimators under balanced type loss functions. The results are presented under the balanced versions of two well-known loss functions, namely the squared error loss and the Varian's linear-exponential (LINEX) loss. Moreover, based on the Bayesian and the non-Bayesian approaches, the problem of testing hypotheses on the lifetime performance index is studied. Also, a simulation study is performed to assess the obtained results. Finally, two illustrative examples are given. |
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Keywords: | Balanced type loss function Bayesian estimate lifetime performance index Pareto distribution progressively first-failure-censored batches |
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