Abstract:
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Exponential distribution plays an important role in modeling real-life data relating to the continuous waiting time. In this presentation, a new estimator of the Exponential parameter has been proposed. Some important characteristics of the estimator have been studied. The performance of the new estimator has been compared theoretically, and empirically with the one using maximum likelihood estimator. Empirical study with simulation, and examples to real-life data reveal that the new estimator is more efficient than the maximum likelihood estimator.
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