This study examines the sensitivity of the posterior mean to change in the prior assumptions. Three plausible choices of prior which include informative, relative-non informative and non-informative priors are considered. The paper considers information level for a prior to cause...
Open access
Research Article10.9734/jsrr/2020/v26i730291
Bayes factor is a major Bayesian tool for model comparison especially when the model priors are the same. In this paper, the Savage-Dickey Density Ratio (SDDR) is used to derive the Bayes factor to select a model from two competing models under consideration in a normal linear re...
Open access
Research Article10.9734/ajpas/2020/v6i330162
Non-constant error variance in Normal Linear Regression Model (NLRM) is an econometric problem generally referred to as heteroscedasticity. Its presence renders statistical inference invalid. Classical approach to its detection, estimation and remediation are widely discussed in...
Open access
Research Article10.9734/ajpas/2019/v4i230111