Accession Number : AD0276633

Title :   ALTERNATE PRIOR DISTRIBUTIONS IN STATISTICAL DECISION THEORY

Corporate Author : OPERATIONS ANALYSIS OFFICE (AIR FORCE) WASHINGTON D C

Personal Author(s) : MAYBERRY,JOHN P.

Report Date : JUN 1962

Pagination or Media Count : 1

Abstract : To remove the apparent arbitrariness in choice of a single prior distribution for a decisiontheory calculation, it is feasible to assume several alternate prior distributions, and assess the results of reasonable policies, under each of those prior distributions. The minimax-regret principle, slightly modified, permits us to make a reasonable decision in view of the spectrum of possibilities. (Author)

Descriptors :   *OPERATIONS RESEARCH, *STATISTICAL ANALYSIS, DISTRIBUTION THEORY, MATRICES(MATHEMATICS), STATISTICAL DISTRIBUTIONS, TEST METHODS

Distribution Statement : APPROVED FOR PUBLIC RELEASE