## Statistical Analysis for Decision MakingElementary probability theory; Discrete random variables and probability distributions; Empirical frequency distributions; Theoretical frequency distributions; Statistical investigations and sampling; Sampling distributions; Statistical decision procedures - hypothesis testing; Statistical decision procedures - estimation; Chi-square tests and analysis of variance; Regression and correlation analysis; Time series; Index numbers; Decision making using prior information; Decision making using both prior and sample information; Decision making - devising optimal strategies prior to sampling; Sequential decision - making procedures; Comparison of classical statistical inference and bayesian decision theory. |

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### Contents

Introduction | 1 |

Chapter 1 Elementary Probability Theory 6 | 36 |

3 Fundamental Probability Rules 1 4 Bayes The | 49 |

Copyright | |

24 other sections not shown

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### Common terms and phrases

accept arithmetic mean assume average Bernoulli process binomial distribution calculation coefficient column computed conditional probability confidence interval consider Correlation Analysis decision rule defectives degrees of freedom denoted Discrete Random Variables discussed dollars equal example expected opportunity loss expected profit expected value Figure finite population formula frequency distribution function given Hence hypothesis testing illustration income independent variables index number indicated measure median method normal distribution null hypothesis number of degrees observed obtained occur outcomes payoff percentage Poisson population mean population parameter possible posterior probabilities prior probabilities probability distribution problem proportion referred Regression and Correlation regression line reject relative represent sample mean sample space sampling distribution selected shipment shown simple random sample specific squares standard deviation standard error Statistical Decision Procedures strategy Table theoretical tion trend Type II errors utility variance weights zero