EAN: 9783642404320

SPRINGERBRIEFS IN STATISTICS STATISTICAL DECI...

This monograph presents a radical rethinking of how elementary inferences should be made in
statistics  implementing a comprehensive alternative to hypothesis testing in which the control
of the probabilities of the errors is replaced by selecting the course of action (one of the
available options) associated with the smallest expected loss. Its strength is that the
inferences are responsive to the elicited or declared consequences of the erroneous decisions 
and so they can be closely tailored to the client's perspective  priorities  value judgments
and other prior information  together with the uncertainty about them.

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