Accession Number:

AD0276633

Title:

ALTERNATE PRIOR DISTRIBUTIONS IN STATISTICAL DECISION THEORY

Descriptive Note:

Corporate Author:

OPERATIONS ANALYSIS OFFICE (AIR FORCE) WASHINGTON D C

Personal Author(s):

• MAYBERRY,JOHN P.

Report Date:

1962-06-01

Pagination or Media Count:

1.0

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

Subject Categories:

Distribution Statement:

APPROVED FOR PUBLIC RELEASE