Estimation of Exponential Parameter using Maximum Bayesian Likelihood Method

The objective of this study is to compare estimation methods for parameter of Exponential distribution using Gamma prior distributions. Exponential Parameter was observed from three estimation methods composing of Maximum Bayesian Likelihood, Bayesian, and Maximum Likelihood developed from Bayesian and Maximum Likelihood. The data were generated through the Monte Carlo simulation technique by varying the sampling sizes from 10, 30, 50, and 100. Each case was repeated 1000 times. Mean Square Error was a criterion to compare estimation methods. The results indicated that method of Maximum Bayesian Likelihood gives the best estimation.