Estimation of the Parameters of the New Weibull-Pareto Distribution Using Ranked Set Sampling
Keywords:New Weibull-Pareto distribution, Fisher information, Maximum likelihood estimation, Ranked set sampling
The method of maximum likelihood estimation based on ranked set sampling (RSS) and some of its modifications is used to estimate the unknown parameters of the new Weibull-Pareto distribution. The estimators are compared with the conventional estimators based on simple random sampling (SRS). The biases, mean squared errors, and confidence intervals are used to the comparison. The effect of the set size and number of cycles of the RSS schemes are addressed. Monte Carlo simulation is carried out by using R. The results showed that the RSS estimators are more efficient than their competitors using SRS.
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