Department of Statistics, University of Ilorin, Nigeria
10.22034/jsmta.2025.22136.1159
Abstract
In statistics, errors are inherent in data and models, particularly heteroscedasticity and skew-normal error structures. These errors were simultaneously generated and infused into the data, leading to uncertainty in parameter estimation. The statistician uses statistical knowledge to elicit information and guide decision-making. Both classical and Bayesian restricted Stein-rule least squares were compared when the data were contaminated with the aforementioned errors. This study proposed an innovative Bayesian generalized restricted Stein-rule least squares method with heteroscedastic skew-normal errors, which was ultimately found to be more efficient compared to non-Bayesian restricted Stein-rule least square estimators. The study observed excellent performance of the Bayesian frameworks, including the Bayes estimate and posterior mean, in comparison to the classical restricted Stein-rule least squares estimators. Therefore, the study recommends Bayesian generalized restricted Stein-rule least squares to analysts and researchers who may encounter such errors in their data.
Oloyede, I. and Abiodun, A. A. (2024). Bayesian estimation of heteroscedastic skew-normal error regression model. Journal of Statistical Modelling: Theory and Applications, 5(2), 153-163. doi: 10.22034/jsmta.2025.22136.1159
MLA
Oloyede, I. , and Abiodun, A. A.. "Bayesian estimation of heteroscedastic skew-normal error regression model", Journal of Statistical Modelling: Theory and Applications, 5, 2, 2024, 153-163. doi: 10.22034/jsmta.2025.22136.1159
HARVARD
Oloyede, I., Abiodun, A. A. (2024). 'Bayesian estimation of heteroscedastic skew-normal error regression model', Journal of Statistical Modelling: Theory and Applications, 5(2), pp. 153-163. doi: 10.22034/jsmta.2025.22136.1159
CHICAGO
I. Oloyede and A. A. Abiodun, "Bayesian estimation of heteroscedastic skew-normal error regression model," Journal of Statistical Modelling: Theory and Applications, 5 2 (2024): 153-163, doi: 10.22034/jsmta.2025.22136.1159
VANCOUVER
Oloyede, I., Abiodun, A. A. Bayesian estimation of heteroscedastic skew-normal error regression model. Journal of Statistical Modelling: Theory and Applications, 2024; 5(2): 153-163. doi: 10.22034/jsmta.2025.22136.1159
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