Estimation and Prediction from Inverse Rayleigh Distribution Based on Lower Record Values

This article discusses Bayesian and non-Bayesian estimation problem of the unknown parameter for the inverse Rayleigh distribution based on lower record values. Maximum likelihood estimator of the unknown parameters were obtained. Also, Bayes estimator have been developed under squared error and zero one loss functions. These estimators are derived using the informative prior distribution. Bayesian and non Bayesian interval estimation for the inverse Rayleigh parameters are obtained. Furthermore, Bayesian prediction interval of the future record values are discussed and obtained. Finally practical example using simulated record values are given to illustrate the theoretical results of prediction interval.