The more statistical tests we perform, the more likely we are to reject the null hypothesis when it is true (i.e., a “false alarm,” also called a “Type 1” error). This is a consequence of the logic of hypothesis testing: We reject the null hypothesis for rare events, and the larger the number of tests, the easier it is to find rare events which are false alarms. This problem is called the infla...

Abstract Bayesian estimators and highest posterior density credible intervals are obtained for two popular inequality measures, viz. the Gini index Bonferroni in case of Dagum distribution. The study considers informative non-informative priors, i.e. Mukherjee-Islam prior extension Jeffrey’s prior, respectively, under presumption Linear Exponential (LINEX) loss function. A Monte Carlo simulatio...

Abstract Restarting a deterministic process always impedes its completion. However, it is known that restarting random can lead to an opposite outcome—expediting Hence, the effect of restart contingent on underlying statistical heterogeneity process’ completion times. To quantify this we introduce novel approach research: methodology inequality indices, which widely applied in economics and soc...