Abstract:
Lognormal distribution has wide applications in the analysis of failure time data, stock prices and rainfall. In this paper we derive Bayes estimator and credible regions for the mean of the lognormal distribution. We compare the coverage probability and length of the Bayes credible interval with the confidence interval obtained from the maximum likelihood estimator of the log location and scale parameters. The procedure is illustrated using the failure time data of locomotive control and stock price.
Reference this Research Paper (copy & paste below code):
Juliet Gratia D’Cunha, K. Aruna Rao (2018); Bayesian Inference for Mean of the Lognormal Distribution;
Int J Sci Res Publ 4(10) (ISSN: 2250-3153). http://www.ijsrp.org/research-paper-1014.php?rp=P343214