Academic Catalog


Course Code: 2460472
METU Credit (Theoretical-Laboratory hours/week): 4(3-2)
ECTS Credit: 8.0
Department: Statistics
Language of Instruction: English
Level of Study: Undergraduate
Course Coordinator: Assoc.Prof.Dr. MURAT RECA YCEL
Offered Semester: Fall Semesters.

Course Content

Introduction to decision making and types of decision situations. Bayes theorem and Bayesian decision theory. Prior, posterior and conjugate prior
distributions. Loss functions. Empirical Bayesian approach. Utility theory for decision making. Value of information. Sequential decision procedures. Multidecision problems.
Prerequisite: STAT 154