Probability and statistics for business decisions : an introduction to managerial economics under uncertainty /

By:

Schlaifer, Robert

Material type: Text

TextPublication details: New York : McGraw-Hill, c1959.Description: xii, fold, 732 p. :illSubject(s):

DDC classification:

658.4'03 SCH

LOC classification:

HD38 .S35

Summary: 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.

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	658.4'03 SCH (Browse shelf(Opens below))	Available		31008100163597

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.

hza 09/08/2018

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