|December 2nd, 2016, 07:08 AM||#1|
Joined: Dec 2016
Estimation of Loss Distribution Parameters.
ALL HELP NEEDED! THANK YOU!
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.
|distribution, estimation, loss, parameters|
|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 11:53 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|