allen webster applied statistics business economics pdf

Recently asymmetric measures of risk have gained in importance we consider a generic representation and a number of alternative symmetric and asymmetric measures of risk which find use in the evaluation of portfolios. A few other models, such as, the Mean Absolute Deviation (MAD), the Weighted Goal Programming (WGP) and the Minimax (MM) model which use alternative metrics for risk are also introduced, compared and contrasted. A piecewise linear approximation of the problem through a reformulation involving diagonalisation of the quadratic form into a variable separable function is also considered. We revisit the mean-variance (M-V) model of Markowitz and the construction of the risk-return efficient frontier. In this chapter, we first provide an overview of a number of portfolio planning models which have been proposed and investigated over the last forty years. The proposed concept for designing DSS is illustrated through a marketing-mix DSS. The outcome of each agent is estimated on the basis of its solution, input information, and other necessary information using a neuro-fuzzy estimator tuned by a genetic algorithm. The agent-coordinator (evaluator) evaluates the proposals and ranks the fuzzy values of the outcome produced by intelligent contending agents. Each distributed intelligent agent is implemented as fuzzy knowledge based system with modest number of rules. The main idea of the proposed DSS is based on decomposition of the overall system intelligence among cooperative autonomous intelligent agents capable of competing and cooperating with each other in order to propose total solution to the problem and to integrate local solutions into the final solution. Generation of a final solution in DSS is achieved through cooperative and competitive interactions among intelligent agents.

The DSS is composed of a number of parallel intelligent agents acting in a distributed mode, and one coordinating agent for evaluation of solutions. The new concept of soft computing based distributed multi-agent marketing decision support system (DSS) is proposed in this paper.

Allen webster applied statistics business economics pdf