Mathematics
8 years ago

New method predicts future order statistics with high accuracy.

Communications Faculty Of Science University of Ankara Series A1Mathematics and Statistics
Statistical inference for the burr type III distribution under type II censored data
Ömer Altındağ

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The article explores how to estimate and predict data from the Burr type III distribution when some information is missing. The researchers used maximum likelihood and maximum product spacing methods to estimate model parameters, and an EM algorithm to find the best estimates. They also predicted future data points using a reliable method. Through simulations, they showed that their estimation methods work well. Additionally, they demonstrated the usefulness of the Burr III distribution with a numerical example.