Bayesian Analysis for Two Parameter Lomax Distribution Under Different Loss Functions

Statistical analysis via Bayesian approach is a common practice applied to draw inference about unknown parameter(s) and reliability characteristics of the probability distribution. The article include shape parameter two-parameter Lomax An attempt has been made obtain Bayes estimators by using extension Jeffrey’s prior Gamma under Entropy loss function Precautionary function. Comparison mean square error through simulation study with varying sample sizes.