Approximate Bayes estimators applied to the inverse Gaussian lifetime model

AbstractIn this paper, Bayesian estimation of the two (unknown) parameters and reliability function of the Inverse Gaussian distribution are obtained by using the approximation forms of Lindley [1] and Tierney and Kadane [2]. Based on a Monte Carlo simulation, the Bayes estimates using Tierney and Kadane's approximation form is the best one, as compared with Lindley's form or maximum likelihood method