The statistical risk analysis as the basis of the sustainable development

In the work the problem of sustainable development of production, i.e., an optimum choice of parameter values of technological process with the purpose of minimization of risk of obtaining production of not planed quality also incorrect making decision about quality of production and maximization of...

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Bibliographic Details
Published inJournalism studies (London, England) Vol. 9; no. 3; pp. 1250024 - 1-1250024-10
Main Authors Kachiashvili, K J, Hashmi, M A, Mueed, A
Format Journal Article
LanguageEnglish
Published 01.08.2012
Subjects
Bayesian method
Model testing
Risk theory
Statistical analysis
Sustainable development
Technological change
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Summary:In the work the problem of sustainable development of production, i.e., an optimum choice of parameter values of technological process with the purpose of minimization of risk of obtaining production of not planed quality also incorrect making decision about quality of production and maximization of profit of production at the guaranteed social and economic effects is formalized. Different statements of the problem depending on the put ultimate purpose are considered. The general method of solution of the put task using Bayesian approach of testing many hypotheses is offered. Reprinted by permission of Routledge, Taylor & Francis Ltd.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:1461-670X
DOI:10.1142/S0219877012500241