In this study, the standard two-sided power (STSP) distribution is considered with regard to statistical reliability analysis in detail. For this purpose, along with the reliability and hazard functions of the distribution, particular reliability indices that are useful in maintenance and replacement policies are obtained and they are evaluated with their plots. The STSP distribution is classified based on aging according to various cases of its parameters. Then, we studied the classical and Bayesian estimations of the reliability and hazard functions. In Bayesian estimation, symmetric and different asymmetric loss functions are considered. For obtaining the Bayes estimates, Monte Carlo Markov Chain simulation using the Gibbs algorithm is performed. Various simulation schemes are performed for comparing the performances of the estimators. Further, the Bayesian predictions of the future observations based on the observed samples are obtained. A real data example is used to illustrate the theoretical outcomes.
Standard two-sided power distribution statistical reliability analysis loss functions Bayesian estimation maximum likelihod MCMC method predictive Bayes
Primary Language | English |
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Subjects | Applied Mathematics |
Journal Section | Research Articles |
Authors | |
Publication Date | December 31, 2021 |
Submission Date | October 14, 2020 |
Acceptance Date | April 15, 2021 |
Published in Issue | Year 2021 Volume: 70 Issue: 2 |
Communications Faculty of Sciences University of Ankara Series A1 Mathematics and Statistics.
This work is licensed under a Creative Commons Attribution 4.0 International License.