Probability and statistics for business decisions :
Schlaifer, Robert.
Probability and statistics for business decisions : an introduction to managerial economics under uncertainty / - New York : McGraw-Hill, c1959. - xii, fold, 732 p. :ill,
Includes bibliographical references and index.
This book is a non-mathematical introduction to the logical analysis of practical business problems in which a decision must be reached under uncertainty. The analysis which it recommends is based on the modern theory of utility and what has come to be known as the "personal" definition of probability; the author believes, in other words, that when the consequences of various possible courses of action depend on some unpredictable event, the practical way of choosing the "best" act is to assign values to consequences and probabilities to events and then to select the act with the highest expected value.
Industrial management
Statistical decision.
Probabilities.
HD38 / .S35
658.4'03 / SCH
Probability and statistics for business decisions : an introduction to managerial economics under uncertainty / - New York : McGraw-Hill, c1959. - xii, fold, 732 p. :ill,
Includes bibliographical references and index.
This book is a non-mathematical introduction to the logical analysis of practical business problems in which a decision must be reached under uncertainty. The analysis which it recommends is based on the modern theory of utility and what has come to be known as the "personal" definition of probability; the author believes, in other words, that when the consequences of various possible courses of action depend on some unpredictable event, the practical way of choosing the "best" act is to assign values to consequences and probabilities to events and then to select the act with the highest expected value.
Industrial management
Statistical decision.
Probabilities.
HD38 / .S35
658.4'03 / SCH