A Bayesian Framework for Reliability Assessment via Wiener Process and MCMC

Table 1

Parameter estimation results under model 𝑀₂.

Parameter	Mean	Standard error	MC error	95% HPD interval
𝛼	0.000346	1.435𝐸−4	7.612𝐸−6	(1.08𝐸−4, 6.29𝐸−4)
𝛽	3.477000	0.879800	0.049210	(2.31700, 5.27300)
𝜆	0.001539	0.003153	1.651𝐸−4	(1.61𝐸−6, 1.14𝐸−2)
𝜃	0.001965	5.386𝐸−5	8.879𝐸−7	(1.86𝐸−3, 2.07𝐸−3)