Assessing the Lifetime Performance Index of Exponential Products Based on the Bayesian Testing Procedure

Hong CW and Wu JW

Published on: 2019-11-29

Abstract

Process capability analysis is an effective means to measure the performance and potential capabilities of a process. In this paper, we construct Bayesian estimators of lifetime performance index (or larger-the-better type process capability index) under the exponential distribution with the upper record values. The Bayesian estimations based on general entropy loss function, linear exponential loss function and squared-error loss function, respectively. Further, the Bayesian estimators of lifetime performance index are utilized to construct the testing procedure for lifetime performance index based on a credible interval with known L. In addition, we also propose another Bayesian test to determine whether the lifetime performance of products adheres to the required level. Finally, we give a practical example and the Monte Carlo simulation to assess the behavior of the lifetime performance index