Bayesian Estimation Of Economic Data Subject To Exponential Distribution

Bayesian method takes the parameter to be estimated as a random variable,and gives the prior information of the parameter to be estimated.The empirical Bayesian method combines the different characteristics of the Bayesian school and the frequency school.It sets the parameters to be evaluated to the distribution of known hyperparameters.At first,it estimates the value of the hyperparameter,then it gets the prior information of the parameter to be estimated.This paper combines the M H algorithm,Gibbs Sampling,applying the Bayesian method and empirical Bayesian method into a statistical model that obeys exponential distribution,and the effectiveness of a series of simulation verification methods was performed.The model was applied to 2015China's per capita GDP in the analysis of per capita consumption and per capita investment,then we verified the linear relationship of China's per capita GDP and per capita consume and investment.