New Bayesian Method Unlocks Precise Quantile Ratios in Exponential Distributions!
The article presents a method for testing the ratio of two quantiles in exponential distributions using Bayesian analysis. By using a specific type of prior called a reference prior, the researchers were able to address calibration issues and ensure proper posterior density. The approach involved using fractional Bayes factor and intrinsic Bayes factor to develop the testing procedure. The study included simulations and a real data example to demonstrate the effectiveness of the method.