Bayesian and empirical-Bayesian evaluations of the Topp–Leone lifetime model using lower record statistics

Abstract

Record statistics are generally used to measure a process’ stochastic behavior at previously unheard-of values, either upper or lower. It can be obtained or calculated using order statistics from a sample whose size is dictated by the values and order of occurrence of observations. Due to its finite support and bathtub-shaped hazard function, the Topp–Leone (TL) distribution is appealing for reliability investigations. In today’s practical applications, estimating unknown parameters and predicting upcoming records is an essential issue. Thus, in this work, the TL distribution’s lower record values are taken into account. Against the symmetric squared-error loss, both Bayes and empirical-Bayes approaches are used to estimate the TL’s parameter and calculate prediction limits for upcoming lower record values. A Monte Carlo simulation experiment is performed to assess the accuracy of the estimation methodologies provided. To demonstrate the operability and usefulness of the various approaches, two useful applications are studied. The numerical evaluations show that the suggested approaches perform effectively and that the provided estimations are adequate in practice.