Bayesian prediction bounds for the pareto lifetime model |
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| Authors: | AM Nigm H I Hamdy |
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| Institution: | 1. Statistics Department, Faculty of Commerce , Kuwait University , P.O. Box 5486;2. Department of Mathematics and Statistics , The University of Vermont , Burlington, Vermont, 05405 |
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| Abstract: | Suppose that the length of time in years for which a business operates until failure has a Pareto distribution. Let x1 ≤ x2 x3 ≤…≤zk denote the survival lifetimes of the first k of a random sample of n businesses. Bayesian predictions are to be made on the ordered failure times of t h e remaining (n-k) businesses, using the conditional probability density function. Examples are given to illustrate our results. |
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| Keywords: | business survival time Pareto distribution Bayesian prediction bounds |
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