Statistical Decision Theory
Publisher: Springer
Published: Oct 17, 2013
Format: paperback
Number of pages: 136
ISBN-13: 9783642404320
Description: This monograph presents a radical rethinking of how elementary inferences should be made in statistics, implementing a comprehensive alternative to hypothesis testing in which the control of the probabilities of the errors is replaced by selecting the course of action (one of the available options) associated with the smallest expected loss. Its strength is that the inferences are responsive to the elicited or declared consequences of the erroneous decisions, and so they can be closely tailored to the client’s perspective, priorities, value judgments and other prior information, together with the uncertainty about them.
Notes: Source title: Statistical Decision Theory (SpringerBriefs in Statistics)