A simulation based approach to the parameter estimation for the three-parameter gamma distribution |
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Affiliation: | 2. Southwest Research and Extension Center, Hope, AR 71801 |
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Abstract: | The gamma distribution is one of the commonly used statistical distribution in reliability. While maximum likelihood has traditionally been the main method for estimation of gamma parameters, Hirose has proposed a continuation method to parameter estimation for the three-parameter gamma distribution. In this paper, we propose to apply Markov chain Monte Carlo techniques to carry out a Bayesian estimation procedure using Hirose’s simulated data as well as two real data sets. The method is indeed flexible and inference for any quantity of interest is readily available. |
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