A Note on Monotonic Probability Distributions
Sans Wolfgang and
Elart von Collani
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Sans Wolfgang: University of Würzburg, Sanderring 2, D-97070 Würzburg, Germany
Elart von Collani: University of Würzburg, Sanderring 2, D-97070 Würzburg, Germany
Stochastics and Quality Control, 2003, vol. 18, issue 1, 67-81
Abstract:
A rational selection of a probability distribution constitutes a major problem. Often a distribution function is selected which fits well to the observed data. In other cases the availability of statistical methods determines the model. Finally, in many fields of application there are certain traditional practices concerning the selection of probability distributions.This paper treats exemplarily how a probability distribution can be selected by considering the available information about a given situation on the one hand and taking into account the amount of ignorance on the other hand.
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:ecqcon:v:18:y:2003:i:1:p:67-81:n:7
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DOI: 10.1515/EQC.2003.67
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