A Simple Bayesian Estimation of The Log-Logistic Distribution

When it comes to the Bayesian estimation of the Log-logistic distribution, practical use of Bayesian estimation of two parameter Log-logistic distribution often requires a two dimensional joint prior distribution of the Log-logistic parameters. It is particularly difficult to convince practitioners to believe any results from their subjective prior distributions. Therefore, there is relatively few results to discuss the theory and nature of Bayesian estimation of two-parameter Log-logistic distribution, not to mention gaining the simply Bayesian estimation. This paper obtains Bayesian estimation of two-parameter Log-logistic distribution by using a simple Bayesian estimation procedure which make it possible to quickly depict related event by using the simple Bayesian estimation in reliability and risk assessment. A numeric example is discussed as an illustration.