Root Mean Square Error of the Maximum Likelihood Estimate of the Parameters of Pareto Distribution

Epimaco A. Cabanlit, Jr.* and Kimberly D. Dela Cruz

Abstract

Pareto distribution is one of the most important distributions in reliability work. In this paper, estimating the parameters of Pareto Distribution is presented using maximum likelihood estimation for different sample sizes. Computer simulation has been carried out to obtain results. Root mean square errors were computed for several values of the parameters. As the sample size increases, the root means square error of the maximum likelihood decreases.

Keywords

pareto distribution; root mean square error; maximum likelihood estimate; parameters; simulation

Cite This Article

Cabanlit Jr., E. A., Cruz, K. D. D. (2023). Root Mean Square Error of the Maximum Likelihood Estimate of the Parameters of Pareto Distribution. International Journal of Scientific Advances (IJSCIA), Volume 4| Issue 5: Sep-Oct 2023, Pages 715-718, URL: https://www.ijscia.com/wp-content/uploads/2023/09/Volume4-Issue5-Sep-Oct-No.496-715-718.pdf

Volume 4 | Issue 5: Sep-Oct 2023