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Companion for “Statistics for Business and Economics” by Paul Newbold, William L. Carlson and Betty Thorne
Mynbaev, Kairat - Volkswirtschaftliche Fakultät, … - 2010
This is a mathematical companion for “Statistics for Business and Economics” by Paul Newbold, William L. Carlson and Betty Thorne, London: Prentice-Hall, 2003, 6th edition. It contains derivations of most formulas from the first 12 chapters of that textbook. Most importantly, the companion...
Persistent link: https://www.econbiz.de/10008587859
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Identifying observed factors in approximate factor models: estimation and hypothesis testing
Chen, Liang - Volkswirtschaftliche Fakultät, … - 2012
interpretations to the orthogonal factors estimated by the method of Principal Components. We first propose a estimation procedure to … selected variables. Our estimation method is shown to able to correctly identity the true observed factor even in the presence …
Persistent link: https://www.econbiz.de/10011111251
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FuelWatch: evidence-based-policy or policy based evidence?
Harding, Don - Volkswirtschaftliche Fakultät, … - 2008
Experience from the United Kingdom and the United States suggests that expert evidence is often reshaped and repackaged by governments so that it supports existing policy rather than informing policy decisions. The Australian government based its decision to introduce FuelWatch on evidence in...
Persistent link: https://www.econbiz.de/10009323463
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The case for higher frequency inflation expectations
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2011
I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused on three survey measures of expected inflation: the...
Persistent link: https://www.econbiz.de/10009650037
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Validity and precision of estimates in the classical newsvendor model with exponential and rayleigh demand
Halkos, George; Kevork, Ilias - Volkswirtschaftliche Fakultät, … - 2012
In this paper we consider the classical newsvendor model with profit maximization. When demand is fully observed in each period and follows either the Rayleigh or the exponential distribution, appropriate estimators for the optimal order quantity and the maximum expected profit are established...
Persistent link: https://www.econbiz.de/10009647205
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Evaluating alternative estimators for optimal order quantities in the newsvendor model with skewed demand
Halkos, George; Kevork, Ilias - Volkswirtschaftliche Fakultät, … - 2012
This paper considers the classical Newsvendor model, also known as the Newsboy problem, with the demand to be fully observed and to follow in successive inventory cycles one of the Exponential, Rayleigh, and Log-Normal distributions. For each distribution, appropriate estimators for the optimal...
Persistent link: https://www.econbiz.de/10009647405
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A new approach to the credibility formula
Payandeh Najafabadi, Amir T. - Volkswirtschaftliche Fakultät, … - 2010
The usual credibility formula holds whenever, (i) claim size distribution is a member of the exponential family of distributions, (ii) prior distribution conjugates with claim size distribution, and (iii) square error loss has been considered. As long as, one of these conditions is violent, the...
Persistent link: https://www.econbiz.de/10008552799
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Bayes reliability measures of Lognormal and inverse Gaussian distributions under ML-II ε-contaminated class of prior distributions
Sinha, Pankaj; Jayaraman, Prabha - Volkswirtschaftliche Fakultät, … - 2009
In this paper we employ ML-II ε-contaminated class of priors to study the sensitivity of Bayes Reliability measures for an Inverse Gaussian (IG) distribution and Lognormal (LN) distribution to misspecification in the prior. The numerical illustrations suggest that reliability measures of both...
Persistent link: https://www.econbiz.de/10005029703
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Evaluating alternative frequentist inferential approaches for optimal order quantities in the newsvendor model under exponential demand
Halkos, George; Kevork, Ilias - Volkswirtschaftliche Fakultät, … - 2012
Three estimation policies for the optimal order quantity of the classical newsvendor model under exponential demand are … evaluated in the current paper. According to the principle of the first estimation policy, the corresponding estimator is … with its maximum likelihood estimator. The estimator of the second estimation policy is derived in such a way as to ensure …
Persistent link: https://www.econbiz.de/10011110832
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Unbiased estimation of maximum expected profits in the Newsvendor Model: a case study analysis
Halkos, George; Kevork, Ilias - Volkswirtschaftliche Fakultät, … - 2012
In the current paper we study a real life inventory problem whose operating conditions match to the principles of the classical newsvendor model. Applying appropriate tests to the available sample of historical demand data, we get the sufficient statistical evidences to support that daily demand...
Persistent link: https://www.econbiz.de/10011114034