In the two-sample prediction problem, record values from the present sample may be used as predictors of order statistics from a future sample. In this paper, we investigate the nearness of record statistics (upper and lower) to order statistics from a location-scale family of distributions in...

Effective management and the assessment of quality performance of products is important in modern enterprises. Often, the business performance is measured using the lifetime performance index CL to evaluate the potential of a process, where L is a lower specification limit. In this paper the...

This paper investigates the generalized parametric measurement methods of aggregate operational risk in compliance with the regulatory capital standards for operational risk in the New Basel Capital Accord ("Basel II"). Operational risk is commonly defined as the risk of loss resulting from...

Empirical studies that use self-reported data on remittances to measure the latter's impact on microeconomic incentives mostly ignore the potential errors associated with reporting/measurement issues. An econometric procedure to control for these errors is developed and applied to...

We show that, for discrete exponential families, the sample mean of n observations does not stochastically dominate a single observation when estimating the population mean. This is in stark contrast to the case of a normal distribution.

We first compare the ranked set sampling (RSS) and simple random sampling schemes for the estimation of the population median through Pitman’s measure of closeness. Then, by using Banks’ criterion, we determine the frequency with which an individual order statistic is closer to the median...