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Volume :6 Issue : 1 1999      Add To Cart                                                                    Download

The Cost of Perfect Information for Estimating the Exponential Location

Auther : Hosny I. Hamdy

In this study the concept of perfect information is implemented to combine both point and confidence interval estimation problems in one decision framework to achieve maximal use of the available sampling information. Specifically, point estimation of the exponential location is viewed in the larger context of interval estimation, since the information required to determine optimal point estimators, per se, is inherently unknowable. Triple sampling procedure is shown to be a reasonable technique for obtaining the sample information required to satisfy specific objectives within this unified decision framework. We also extend our investigation to discuss the ability of the triple sampling confidence interval to detect shifts in the location parameter of the exponential distribution.

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