Comparison of Least Square Estimators with Rank Regression Estimators of Weibull Distribution - A Simulation Study

Abstract

We estimated the parameters of two-parameter Weibull Distribution with the Least Square method from an optimally constructed grouped sample and compared the efficiencies of these estimators with the parameters estimated with Rank Regression method from an ungrouped (complete) sample, though the estimators from both the methods are in closed form, we resorted to Monte-Carlo simulation for computing Bias, Variance and Mean Square Error. The Least Square Estimation method for optimally grouped sample will give an efficient shape parameter than the Rank Regression Estimation method for complete sample. A numerical example is presented to illustrate the methods proposed here.