When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

Sankhyā: The Indian Journal of Statistics, Series B (1960-2002) Vol. 55, No. 3, Special Issue Dedicated to the Memory of P. C. Mahalanobis (Dec., 1993), pp. 385-392 (8 pages) The purpose of this paper ...

The efficiency of Monte Carlo simulations is significantly improved when implemented with variance reduction methods. Among these methods, we focus on the popular importance sampling technique based ...

Description: The course is concerned with the application of probability theory and statistics to management problems. Techniques studied and applied include probability models, Bayesian decision ...