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Comparisons of several Pareto distributions based on record values

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  • Jing Zhao
  • Weihu Cheng
  • Haiqing Chen
  • Mixia Wu

Abstract

In order to avoid wrong conclusions in any further analysis, it is of importance to conduct a formal comparison for characteristic quantities of the distributions. These characteristic quantities we are familiar with include mean, quantity and reliability function, and so on. In this paper, we consider two tests aiming at the comparisons for function of parameters in Pareto distribution based on record values. They are generalized p-value-based test and parametric bootstrap-based test, respectively. The resulting procedures are easy to compute and are applicable to small samples. A simulation study is conducted to investigate and compare the performance of the proposed tests. A phenomenon we note is that generalized p-value-based test almost uniformly outperforms the parametric bootstrap-based test.

Suggested Citation

  • Jing Zhao & Weihu Cheng & Haiqing Chen & Mixia Wu, 2018. "Comparisons of several Pareto distributions based on record values," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 47(10), pages 2456-2468, May.
    • Handle: RePEc:taf:lstaxx:v:47:y:2018:i:10:p:2456-2468
    DOI: 10.1080/03610926.2016.1256410
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