The objective of this paper is to estimate the parameters of Lomax distribution with shape parameter(α) and scale
parameter(λ). In this heuristic algorithm, the Maximum Product Spacings Method is used to Estimates the parameters of Lomax
Distribution. We also computed Average Estimate (AE), Variance (VAR), Mean Absolute Deviation (MAD), Mean Square Error
(MSE), Relative Error (RE) and Relative Absolute Bias (RAB) for both the parameters under grouped sample based on 1000
simulations to assess the performance of the estimators. And also compare Maximum Product Spacings Method with Least
Squares Regression Method and Median Rank Regression Method.
