Estimation of the inverse Weibull distribution based on progressively censored data: Comparative study

In this article we consider statistical inferences about the unknown parameters of the Inverse Weibull distribution based on progressively type-II censoring using classical and Bayesian procedures. For classical procedures we propose using the maximum likelihood; the least squares methods and the approximate maximum likelihood estimators. The Bayes estimators are obtained based on both the symmetric and asymmetric (Linex, General Entropy and Precautionary) loss functions. There are no explicit forms for the Bayes estimators, therefore, we propose Lindley׳s approximation method to compute the Bayes estimators. A comparison between these estimators is provided by using extensive simulation and three criteria, namely, Bias, mean squared error and Pitman nearness (PN) probability. It is concluded that the approximate Bayes estimators outperform the classical estimators most of the time. Real life data example is provided to illustrate our proposed estimators.