ESTIMATION OF WEIBULL PARAMETERS USING A RANDOMIZED NEIGHBORHOOD SEARCH FOR THE SEVERITY OF FIRE ACCIDENTS
Soontorn Boonta, Anchalee Sattayatham and Pairote Sattayatham
DOI : 10.3844/jmssp.2013.12.17
Journal of Mathematics and Statistics
Volume 9, Issue 1
In this study, we applied Randomized Neighborhood Search (RNS) to estimate the Weibull parameters to determine the severity of fire accidents; the data were provided by the Thai Reinsurance Public Co., Ltd. We compared this technique with other frequently-used techniques: the Maximum Likelihood Estimator (MLE), the Method of Moments (MOM), the Least Squares Method (LSM) and the weighted least squares method (WLSM) and found that RNS estimates the parameters more accurately than do MLE, MOM, LSM or WLSM.
© 2013 Soontorn Boonta, Anchalee Sattayatham and Pairote Sattayatham. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.