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A NOTE ON PARAMETER ESTIMATION IN BETA DISTRIBUTION
Keywords:
Newton-Raphson method, Digamma function, Trigamma functionDOI:
https://doi.org/10.17654/0972086324015Abstract
Noting that Beta distribution is widely used in engineering and industrial applications, we revisit parameter estimation procedures. A comparative study between the Method of Moment, the Method of Moment involving sample median instead of sample mean, and the Maximum Likelihood estimate has been performed using simulation.
Received: March 19, 2024
Accepted: April 22, 2024
References
M. Evans, N. Hastings and B. Peacock, Statistical Distributions, Wiley Series in Probability and Statistics, John Wiley and Sons, Inc., 2000.
M. Raschke, Empirical behavior of tests for the beta distribution and their application in environmental research, Stochastic Environmental Research and Risk Assessment 25(1) (2011), 79-89.
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