Bayesian Inference for Median of the Lognormal Distribution
Authors:
- K. Aruna RaoKRK. Aruna Rao
- Juliet Gratia D'CUnhaJDJuliet Gratia D'CUnha
- 1 November 2016
- journal article
- Published by Scilight Press Pty Ltd in Journal of Modern Applied Statistical Methods
- Vol. 15 (2) , 526-535
Abstract
Lognormal distribution has many applications. The past research papers concentrated on the estimation of the mean of this distribution. This paper develops credible interval for the median of the lognormal distribution. The estimated coverage probability and average length of the credible interval is compared with the confidence interval using Monte Carlo simulation.Keywords
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