Bayesian Estimation Based on Ranked Set Sampling Using Asymmetric Loss Function

In this paper, we use the Linex loss function to derive the Bayesian estimate of the parameter of the exponential distribution based on ranked set sampling. Under this setup, we use both conjugate and Jeffreys prior distributions. To assess the efficiency of the obtained estimates, we compute the bias and mean squared error of the derived estimates and compare them with those based on the corresponding simple random sample through Monte Carlo …