Abstract
In this paper, we propose the classical and Bayesian regression models for use in conjunction with the inverted Weibull (IW) distribution; there are the inverted Weibull Regression model (IW-Reg) and inverted Weibull Bayesian regression model (IW-BReg). In the proposed models, we suggest the logarithm and identity link functions, while in the Bayesian approach, we use a gamma prior and two loss functions, namely zero-one and modified general entropy (MGE) loss functions. To deal with the outliers in the proposed models, we apply Huber and Tukey's bisquare (biweight) functions. In addition, we use the iteratively reweighted least squares (IRLS) algorithm to estimate Bayesian regression coefficients. Further, we compare IW-Reg and IW-BReg using some performance criteria, such as Akaike's information criterion (AIC), deviance (D), and mean squared error (MSE). Finally, we apply the some real datasets collected from Saudi Arabia with the corresponding explanatory variables to the theoretical findings. The Bayesian approach shows better performance compare to the classical approach in terms of the considered performance criteria.