My Math Forum  

Go Back   My Math Forum > College Math Forum > Advanced Statistics

Advanced Statistics Advanced Probability and Statistics Math Forum

LinkBack Thread Tools Display Modes
December 2nd, 2016, 06:08 AM   #1
Joined: Dec 2016

Posts: 1
Thanks: 0

Estimation of Loss Distribution Parameters.


A statistician is trying to decide on the value of an unknown parameter ϴ, where ϴ is the maximum claim that can occur for a line of business whose claims are uniformly distributed on the interval (0, ϴ). In making the decision, the statistician randomly selects a single loss from the line of business, which takes the value x, and estimates ϴ as ϴ*=kx where k is a constant. The statistician is using a quadratic loss function: that is to say the loss incurred based on their decision is proportional to the squared distance between the true value ϴ and their estimate ϴ*. Find the form of their estimate ϴ* based on the sample outcome x in order to minimize the expected risk.
mathmaster135711 is offline  

  My Math Forum > College Math Forum > Advanced Statistics

distribution, estimation, loss, parameters

Thread Tools
Display Modes

Similar Threads
Thread Thread Starter Forum Replies Last Post
How to calculate rate of future population decline with loss and gain parameters? PistolSlap Algebra 5 December 6th, 2015 10:53 AM
Binomial Distribution Parameters WWRtelescoping Probability and Statistics 1 March 16th, 2014 07:04 PM
Help on estimation ysr Advanced Statistics 1 September 5th, 2012 12:38 PM
estimation the sum Anton29 Advanced Statistics 2 August 23rd, 2012 09:29 PM
|f|'s estimation elim Real Analysis 1 May 15th, 2010 11:39 AM

Copyright © 2018 My Math Forum. All rights reserved.