A Bayesian Estimate of Reliability in the Weibull Distribution

A two parameter Weibull distribution is assumed to be the appropriate model of an engineering device. A Bayesian estimate of reliability is developed by assuming that a value β0 of the shape parameter is known. Then we transform the Weibull distribution to the equivalent Exponential distribution by the transformation t′ = tβ0, so that techniques of analysis for the case of an exponential model can be applied to the transformed Weibull distribution. Then we can get the Bayesian estimate of reliability for this exponential distribution using a suitable loss function