## Applications in Bayesian decision processes |

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### Contents

Bayesian Statistics | 5 |

Probability Statistical Decision Theory and Accounting | 18 |

Organization Decision Theory A Synthesis | 24 |

Copyright | |

5 other sections not shown

### Common terms and phrases

accounting additional information alternatives basis Bayes Bayes's theorem Bayesian analysis Bayesian approach Bayesian statistics behavioral calculation campaign choice cision computed concept confidence interval considered cost course of action decision maker decision rule decision-making defined demand descriptive decision model determine drilled economic economic order quantity entropy equation event example Expected Monetary Value expected value experience function given illustration interval estimation inventory decision inventory level involve likelihood likelihood function loss function managerial maximum-likelihood estimators ment method nature objective observed odds opportunity loss optimal order quantity organization outcome payoff matrix personal probabilities player possible posterior distribution posterior probabilities present principal's request prior distribution probability distribution problem procedure profit random reorder point retailer risk level saddle point sample Schlaifer selected significance situation solution statistical decision theory stocking decisions strategy subjective probabilities superintendent Table tion top management uncertainty utility variable zero-sum games