Management Science Letters (Jan 2015)

Generalized exponential distribution: A Bayesian approach using MCMC methods

  • Jorge Alberto Achcar,
  • Fernando Antȏnio Moala,
  • Juliana Boleta

DOI
https://doi.org/10.5267/j.ijiec.2014.8.002
Journal volume & issue
Vol. 6, no. 1
pp. 1 – 14

Abstract

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The generalized exponential distribution could be a good option to analyse lifetime data, as an alternative for the use of standard existing lifetime distributions as exponential, Weibull or gamma distributions. Assuming different non-informative prior distributions for the parameters of the model, we introduce a Bayesian analysis using Markov Chain Monte Carlo (MCMC) methods. Some numerical illustrations considering simulated and real lifetime data are presented to illustrate the proposed methodology, especially the effects of different priors on the posterior summaries of interest.

Keywords