Inference Based on Type-II Hybrid Censored Data from a Pareto Distribution
The Pareto distribution takes part in life-testing experiments as a finite range distribution. In this study, inference studies for the scale and shape parameters of the Pareto distribution under type-II hybrid censoring scheme are considered. The main reason for choosing this censoring scheme is its advantage of guaranteeing at least particular failures to be observed by the end of the experiment. Maximum likelihood and Bayes estimation methods are used with their approximate confidence intervals. Proposed estimation methods are compared numerically based on simulation studies. A numerical example is also used to illustrate the theoretical outcomes.