ON A COMPARISION OF FOUR ESTIMATES OF A COMMON MEAN BY MULTIPLE CRITERIA DECISION MAKING METHOD

Abstract

In this paper we consider the problem of estimating the common mean μ of two
independent normal populations with unknown and possibly unequal variances.
The purpose of this paper is to compare four unbiased estimates of μ based
on Multiple Criteria Decision Making (MCDM) procedure in order to rank the
estimates from the best to the worst in terms of their variances. A simulation
study is also used to compare the competing estimates in small samples.