4.6 Article

Dynamic cumulative residual Renyi entropy for Lomax distribution: Bayesian and non-Bayesian methods

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Summary: This article explores the Bayesian estimation of dynamic cumulative residual entropy for Pareto II distribution, considering non-informative and informative priors, and different loss functions. The simulation study shows that the Bayesian estimate under LINEX loss function is preferable in most situations, and the estimated risks decrease as the value of entropy decreases. The inferential procedure developed in this paper is demonstrated using real data.

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