An overview of Bayesian prediction of future record statistics using upper record ranked set sampling scheme

Two sample prediction is considered for a one-parameter exponential distribution‎. ‎In practical experiments using sampling methods based on different schemes‎ ‎is crucial‎. This paper addresses the problem of Bayesian prediction of record values from a future sequence‎, ‎based on an upper record ranked set sampling scheme‎. First‎, ‎under an upper record ranked set sample (RRSS) and different values of hyperparameters‎, ‎point predictions have been studied with respect to both symmetric and asymmetric loss functions‎. ‎These predictors are compared in the sense of their mean squared prediction errors‎. ‎Next‎, we have derived two prediction intervals for future record values‎. ‎Prediction intervals are compared in terms of coverage probability and expected length‎. ‎Finally‎, a simulation study is performed to compare the performances of the predictors‎. ‎The real data set is also analyzed for an illustration of the findings.‎