A Bayesian approach for estimation of coefficients of variation of normal distributions

Warisa Thangjai, and Sa-Aat Niwitpong, and Suparat Niwitpong, (2021) A Bayesian approach for estimation of coefficients of variation of normal distributions. Sains Malaysiana, 50 (1). pp. 261-278. ISSN 0126-6039

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Official URL: https://www.ukm.my/jsm/malay_journals/jilid50bil1_...

Abstract

The coefficient of variation is widely used as a measure of data precision. Confidence intervals for a single coefficient of variation when the data follow a normal distribution that is symmetrical and the difference between the coefficients of variation of two normal populations are considered in this paper. First, the confidence intervals for the coefficient of variation of a normal distribution are obtained with adjusted generalized confidence interval (adjusted GCI), computational, Bayesian, and two adjusted Bayesian approaches. These approaches are compared with existing ones comprising two approximately unbiased estimators, the method of variance estimates recovery (MOVER) and generalized confidence interval (GCI). Second, the confidence intervals for the difference between the coefficients of variation of two normal distributions are proposed using the same approaches, the performances of which are then compared with the existing approaches. The highest posterior density interval was used to estimate the Bayesian confidence interval. Monte Carlo simulation was used to assess the performance of the confidence intervals. The results of the simulation studies demonstrate that the Bayesian and two adjusted Bayesian approaches were more accurate and better than the others in terms of coverage probabilities and average lengths in both scenarios. Finally, the performances of all of the approaches for both scenarios are illustrated via an empirical study with two real-data examples.

Item Type:Article
Keywords:Bayesian approach; Coefficient of variation; Difference; Normal distribution; Simulation
Journal:Sains Malaysiana
ID Code:16410
Deposited By: ms aida -
Deposited On:07 Apr 2021 09:56
Last Modified:13 Apr 2021 04:30

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