This article aims at estimating the scale parameter of the Weimal distribution using Bayesian method and comparing the estimators obtained to the estimator of the scale parameter obtained from the method of maximum likelihood. Under Bayesian approach, the estimators are obtained by using uniform prior and Jeffrey’s prior with the adoption of the precautionary, quadratic and square error loss functions. A derivation and discussion2ws under maximum likelihood estimation is also done. The above methods of estimation employed in this paper are compared based on their mean square errors (MSEs) through a simulation study carried out in R statistical software with different sample sizes. The results indicate that the most appropriate method for the scale parameter is precautionary loss function under either uniform or Jeffrey’s prior irrespective of the sample sizes allocated and the values taken by the other parameters.
The article presents an extension of the Gompertz-Makeham distribution using the Lomax generator of probability distributions. This generalization of the Gompertz-Makeham distribution provides a more skewed and flexible compound model called Lomax Gompertz-Makeham distribution. The paper derives and discusses some Mathematical and Statistical properties of the new distribution. The unknown parameters of the new model are estimated via the method of maximum likelihood estimation. In conclusion, the new distribution is applied to two real life datasets together with two other related models to check its flexibility or performance and the results indicate that the proposed extension is more flexible compared to the other two distributions considered in the paper based on the two datasets used.
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