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Journals / Communications Faculty of Sciences University of Ankara Series A1 Mathematics and Statistics / 2021 / Volume: 70 Issue: 2

On the reliability characteristics of the standard two-sided power distribution

Çağatay Çetinkaya(BINGOL UNIVERSITY, FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES, DEPARTMENT OF BUSINESS)0000-0001-8010-4261
Ali Genc(CUKUROVA UNIVERSITY)0000-0001-7880-5587
Pages
—
Publication Date
2021-12-31
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

A real data example is used to illustrate the theoretical outcomes.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:In this study, the standard two-sided power (STSP) distribution is considered with regard to statistical reliability analysis in detail.
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Key Findings & Data:Various simulation schemes are performed for comparing the performances of the estimators.
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Conclusion & Impact:A real data example is used to illustrate the theoretical outcomes.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Standard two-sided power distribution · statistical reliability analysis · loss functions

Abstract

In this study, the standard two-sided power (STSP) distribution is considered with regard to statistical reliability analysis in detail. For this purpose, along with the reliability and hazard functions of the distribution, particular reliability indices that are useful in maintenance and replacement policies are obtained and they are evaluated with their plots. The STSP distribution is classified based on aging according to various cases of its parameters. Then, we studied the classical and Bayesian estimations of the reliability and hazard functions. In Bayesian estimation, symmetric and different asymmetric loss functions are considered. For obtaining the Bayes estimates, Monte Carlo Markov Chain simulation using the Gibbs algorithm is performed. Various simulation schemes are performed for comparing the performances of the estimators. Further, the Bayesian predictions of the future observations based on the observed samples are obtained. A real data example is used to illustrate the theoretical outcomes.

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Cite This Article

Çetinkaya, Ç., Genc, A. (2021). On the reliability characteristics of the standard two-sided power distribution. Communications Faculty of Sciences University of Ankara Series A1 Mathematics and Statistics, Volume: 70 Issue: 2. https://doi.org/10.31801/cfsuasmas.810424

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