Parameter Estimates of General Failure Rate Model: A Bayesian Approach

Abstract

The failure rate function plays an important role in studying the lifetime distributions in reliability theory and life testing models. A study of the general failure rate model $r(t)=a+bt^{\theta-1}$, under squared error loss function taking $a$ and $b$ independent exponential random variables has been analyzed in the literature. In this article, we consider $a$ and $b$ not necessarily independent. The estimates of the parameters $a$ and $b$ under squared error loss, linex loss and entropy loss functions are obtained here.