Physics and Astronomy
8 years ago

New estimator shrinks towards prior intervals, reducing risk in bivariate mean estimation.

Journal of the Japanese Society of Computational Statistics
A SHRINKAGE ESTIMATOR OF THE BIVARIATE NORMAL MEAN WITH INTERVAL RESTRICTIONS
Hea-Jung Kim, Kôichi Inada, Hiroshi Yadohisa

Paper Summary

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The article presents a new way to estimate the average values of two related things when we already have some rough guesses about where those averages might fall. The new method is designed to be more accurate than the usual method, especially when the guesses are not quite right. The researchers found that this new method, called the MDI estimator, tends to give better results than the standard method, especially when the initial guesses are close to the true values.