Table 4 Monte Carlo results: means and SRMSEs (in parentheses) of \(\hat {\alpha }\), \(\hat {\beta }\), \(\hat {s}\) and \(\hat {c}\)

True values

17.11192

0.02785

1.49817

2.64952

n=50

20.60594

0.06942

1.51430

2.56537

(10.48504)

(0.09636)

(0.12745)

(1.55388)

n=100

19.09881

0.04589

1.50674

2.61276

(8.89715)

(0.05139)

(0.09234)

(1.04975)

n=500

17.38320

0.03260

1.50329

2.59845

(1.77489)

(0.01378)

(0.04358)

(0.48186)

n=1,000

17.22701

0.03018

1.49953

2.63054

(1.27852)

(0.00780)

(0.03029)

(0.31852)

n=5,000

17.16906

0.02872

1.50008

2.63229

(0.49828)

(0.00329)

(0.01300)

(0.14757)