
Accession Number : AD0262400
Title : A BAYES TEST OF P LESS THAN OR EQUAL TO 1/2 VERSUS P >1/2
Corporate Author : COLUMBIA UNIV NEW YORK
Personal Author(s) : MORIGUTI,SIGEITI ; ROBBINS,HERBERT
Report Date : 05 SEP 1961
Pagination or Media Count : 45
Abstract : Consider the following sequential decision problem:An urn contains white and black balls, the proportion p of black balls being unknown, 0 < p < 1. A single ball is to be drawn at random from the urn tomorrow and we must guess its color; it our guess is correct we are to receive a reward of $ A, and if incorrect we are to receive nothing. In order to obtain some information about p we are allowed to draw as many balls as we like from the urn today, one at a time and with replacement, observing the color of each ball drawn, but for each such ball drawn we must pay $ 1. Problem: how many balls should we observe today and what color should we then predict for the ball to be drawn tomorrow. (Author)
Descriptors : *PROBABILITY, *SEQUENTIAL ANALYSIS, STATISTICAL ANALYSIS, STATISTICAL DISTRIBUTIONS, STATISTICAL TESTS
Distribution Statement : APPROVED FOR PUBLIC RELEASE