
In this code the author, Iman Mohamed Attia, explains the algorithm to calculate the bias after estimating the parameters of the newly invented distribution, Median-Based Unit Weibull (MBUW) by the auhtor. The new approch named, by the author, as the variance-corrected MLE is applied to estimate the parameters which exhibit high depndency. The variance-corrected MLE approach helps mitigate this dependecny. And after applying the bias correction , the results are nearly identical to the outcomes before bias adjustment procedure. Thus, this new variance-corrected MLE approach can be consired as a promising option to minimize the variance especially in small sample size. The code is applied to factors affecting unit capacity previously mentioned and discussed by Maya et all 2024.
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