The Relevant Forecast of Variance of Income for Marketing Decisions Under Uncertainty PDF Download
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Author: Steven Scott Duncan
Publisher:
ISBN:
Category :
Languages : en
Pages : 502
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Author: Steven Scott Duncan
Publisher:
ISBN:
Category :
Languages : en
Pages : 502
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Author:
Publisher:
ISBN:
Category : Dissertation abstracts
Languages : en
Pages : 760
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Author: J.K. Sengupta
Publisher: Springer Science & Business Media
ISBN: 3642701639
Category : Business & Economics
Languages : en
Pages : 295
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Book Description
Understanding the stochastic enviornment is as much important to the manager as to the economist. From production and marketing to financial management, a manager has to assess various costs imposed by uncertainty. The economist analyzes the role of incomplete and too often imperfect information structures on the optimal decisions made by a firm. The need for understanding the role of uncertainty in quantitative decision models, both in economics and management science provide the basic motivation of this monograph. The stochastic environment is analyzed here in terms of the following specific models of optimization: linear and quadratic models, linear programming, control theory and dynamic programming. Uncertainty is introduced here through the para meters, the constraints, and the objective function and its impact evaluated. Specifically recent developments in applied research are emphasized, so that they can help the decision-maker arrive at a solution which has some desirable charac teristics like robustness, stability and cautiousness. Mathematical treatment is kept at a fairly elementary level and applied as pects are emphasized much more than theory. Moreover, an attempt is made to in corporate the economic theory of uncertainty into the stochastic theory of opera tions research. Methods of optimal decision rules illustrated he re are applicable in three broad areas: (a) applied economic models in resource allocation and economic planning, (b) operations research models involving portfolio analysis and stochastic linear programming and (c) systems science models in stochastic control and adaptive behavior.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309180538
Category : Science
Languages : en
Pages : 124
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Uncertainty is a fundamental characteristic of weather, seasonal climate, and hydrological prediction, and no forecast is complete without a description of its uncertainty. Effective communication of uncertainty helps people better understand the likelihood of a particular event and improves their ability to make decisions based on the forecast. Nonetheless, for decades, users of these forecasts have been conditioned to receive incomplete information about uncertainty. They have become used to single-valued (deterministic) forecasts (e.g., "the high temperature will be 70 degrees Farenheit 9 days from now") and applied their own experience in determining how much confidence to place in the forecast. Most forecast products from the public and private sectors, including those from the National Oceanographic and Atmospheric Administration's National Weather Service, continue this deterministic legacy. Fortunately, the National Weather Service and others in the prediction community have recognized the need to view uncertainty as a fundamental part of forecasts. By partnering with other segments of the community to understand user needs, generate relevant and rich informational products, and utilize effective communication vehicles, the National Weather Service can take a leading role in the transition to widespread, effective incorporation of uncertainty information into predictions. "Completing the Forecast" makes recommendations to the National Weather Service and the broader prediction community on how to make this transition.
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 1252
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Author:
Publisher:
ISBN:
Category : Agriculture
Languages : en
Pages : 1852
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Author: Iowa State University
Publisher:
ISBN:
Category : Commencement ceremonies
Languages : en
Pages : 382
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Author: Charles W. Lamb, Jr.
Publisher: Marketing Classics Press
ISBN: 1613112343
Category : Business & Economics
Languages : en
Pages : 283
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Author: E.J. Visser
Publisher: Springer Science & Business Media
ISBN: 9400997078
Category : Business & Economics
Languages : en
Pages : 653
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Proceedings of the 3rd World Conference on Transport Research, Rotterdam, The Netherlands, April 1977
Author: Gunter Schramm
Publisher:
ISBN:
Category : Rain and rainfall
Languages : en
Pages : 452
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