Two-Sided M-Bayesian Credible Limits Method of Reliability Parameters and Its Applications

Abstract

This article introduces a new method, named the two-sided M-Bayesian credible limits method, to estimate reliability parameters. It is especially suitable for situations of high reliability or zero-failure data. The definition, properties, and related formulas of the two-sided M-Bayesian credible limit are proposed. A real data set are also discussed. By means of an example we can see that the two-sided M-Bayesian credible limits method is efficient and easy to perform.

Keywords:

• Exponential distribution
• Parameter estimation
• Two-sided M-Bayesian credible limit
• Zero-failure data

Mathematics Subject Classification:

• 62F15
• 62N05

Acknowledgments

The author wishes to thank Professors Xizhi Wu and Jiabao Wang, who checked the article and gave the author very helpful suggestions. The author also wants to thank the referees for their helpful comments.

This work was supported partly by the Fujian Province Natural Science Foundation of China, and partly by the Fujian University of Technology.