New estimation methods improve accuracy of shape parameter predictions for distribution.
The article compares different methods for estimating the shape parameter of the Kumaraswamy distribution. They used numerical, non-Bayes, and Bayes techniques to find the best estimate. The maximum likelihood method was used as a non-Bayes estimator, while Bayes estimators were calculated using informative priors and a symmetric loss function. The researchers also used numerical methods like Newton's method and the false position method. Through simulation research, they found that the Bayes estimators with informative priors were the most effective in estimating the shape parameter.