The Concept of Maximum Reliability Selection of Unknown Distribution.
Final rept. 1 Oct-15 Dec 73,
WEIBULL (WALODDI) LAUSANNE (SWITZERLAND)
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The classical method of estimating an unknown parameter of a given distribution function by means of a unique function of the observations has been replaced by a procedure which consists in deciding between several possible values of the parameter by use of a test statistic, called the selector. Its merit is appraised by use of a new concept, the reliability of the selector, which is equal to the probability of selecting the true value of the parameter. It has been proved that the maximum likelihood estimation method possesses maximum reliability. Pertinent formulas have been developed and applied to the Weibull distribution. Author
- Statistics and Probability