Bayes interval for the Weibull parameters utilizing guessed estimates

Abstract

In this paper an attempt is made to provide a method of obtaining the HPD-intervals for the scale and shape parameters of the Weibull distribution, when a prior distribution of the parameter places a weight (1 - b) on the guess value of the parameter and distributes the rest probability mass b according to some specified distribution. The equal tail credible intervals have been obtained and it is proposed that these limits be used as initial points for obtaining the HPD-intervals. © 1993.