Table 3: Posterior estimates from proposed and IOU models.

parameter Approximated Model IOU Model
Mean SD Bias% 95% HPD Mean SD Bias% 95% HPD
μ a 4.001 0.014 -0.10% (3.975, 4.026) 4.001 0.015 -0.10% (3.974, 4.027)
σ a 2 0.02 0.526 0.10% (0.00, 0.041) 0.02 0.613 0.10% (0.00, 0.042)
b -3.498 0.102 -0.10% (-3.69, -3.29) -3.489 0.11 -1.10% (-3.71, -3.273)
β 0.998 0.028 0.30% (0.942, 1.052) 0.992 0.082 0.80% (0.814, 1.168)
σ ε 2 0.051 0.011 -0.81% (0.029, 2.132) 0.051 0.011 -0.10% (0.029, 2.132)
σ u 2 2.48 0.108 (2.165, 2.795)
α w 1. 53 0.283 2.00% (0.950, 2.110)
σ w 2 0.119 0.016 0.10% (0.088, 1.50)