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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Making Decisions

Making Decisions

Lindley, D. V.
Lindley, Dennis V.
Lindley, Cody

Paperback

Probability & Statistics

ISBN10: 0471908088
ISBN13: 9780471908081
Publisher: John Wiley & Sons
Published: Apr 5 1991
Pages: 220
Weight: 0.80
Height: 0.54 Width: 5.94 Depth: 8.96
Language: English
Making Decisions Second Edition D.V. Lindley Formerly Professor of Statistics, University College London This book looks at the problems involved in decision-making and argues that there is only one logical way to make a decision. By the use of three basic principles--assigning probabilities to the uncertain events; assigning utilities to the possible consequences; and choosing that decision that maximizes expected utility--decisions can be reached more efficiently and with less disagreement. It shows that only maximization of expected utility leads to sensible decision-making. This extensively revised second edition uses only elementary mathematics and will be of interest to all those concerned with decision-making and its consequences. Since his retirement from University College London in 1977 Professor Lindley has held visiting appointments at Berkeley, University of Florida, George Washington University, University of Sao Paulo, University of Wisconsin, Monash University, Australia, and University of Canterbury, New Zealand. Contents
* Decisions and uncertain events
* A numerical measure for uncertainty
* The laws of probability
* A numerical measure for consequences
* The utility of money
* Bayes' Theorem
* Value of information
* Decision trees
* The assessment of probabilities and utilities
* An appreciation
Appendix Answers to exercises Glossary of Symbols Subject Index

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