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2024 | OriginalPaper | Chapter

The A Priori Procedure for Estimating the Location Parameter Under Elliptical Settings

Authors : Xiangfei Chen, Tonghui Wang, S. T. Boris Choy, David Trafimow, Tingting Tong

Published in: Applications of Optimal Transport to Economics and Related Topics

Publisher: Springer Nature Switzerland

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Abstract

The a priori procedure (APP) provides minimum sample sizes for estimating parameters of the population distribution that ensure precision and confidence in sample statistics. In this paper, we extend the APP to include the family of elliptical distributions, which is a member of a broad family of probability distributions and is an extension of the family of normal distributions. Properties of the elliptical distribution are discussed. Under the uncorrelated assumption and with a given precision and a confidence level, the desired sample size for estimating the location parameter is obtained for generalized elliptically symmetric logistic, symmetric Kotz Type, and t distributions, respectively. The confidence interval for the location parameter is constructed based on the desired sample size using elliptical distribution. Three real data examples are given to illustrate our main results. In addition, the Shinyapp program links for some of the elliptical distributions are provided for researchers and practitioners to use. In the program, the desired sample size is calculated.

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Metadata
Title
The A Priori Procedure for Estimating the Location Parameter Under Elliptical Settings
Authors
Xiangfei Chen
Tonghui Wang
S. T. Boris Choy
David Trafimow
Tingting Tong
Copyright Year
2024
Book
Applications of Optimal Transport to Economics and Related Topics

Print ISBN: 978-3-031-67769-4

Electronic ISBN: 978-3-031-67770-0

Copyright Year: 2024

DOI
https://doi.org/10.1007/978-3-031-67770-0_3

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