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A FORMULA FOR THE ALLOCATION OF RESOURCES BASED ON UNCERTAIN PREDICTIONS OF NEED

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UNSPECIFIED (1993) A FORMULA FOR THE ALLOCATION OF RESOURCES BASED ON UNCERTAIN PREDICTIONS OF NEED. JOURNAL OF THE ROYAL STATISTICAL SOCIETY SERIES A-STATISTICS IN SOCIETY, 156 (Part 1). pp. 107-113.

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Abstract

The allocation of resources is often based on estimated need derived from an analysis of historical expenditure. Such estimates can be associated with substantial statistical uncertainty. This paper proposes a formula which allows for this uncertainty by shrinking the allocation from an estimate-based allocation to a simple size-based allocation. An example in educational expenditure is given.

Item Type: Journal Article
Subjects: H Social Sciences
Q Science > QA Mathematics
Journal or Publication Title: JOURNAL OF THE ROYAL STATISTICAL SOCIETY SERIES A-STATISTICS IN SOCIETY
Publisher: BLACKWELL PUBL LTD
ISSN: 0035-9238
Official Date: 1993
Dates:
DateEvent
1993UNSPECIFIED
Volume: 156
Number: Part 1
Number of Pages: 7
Page Range: pp. 107-113
Publication Status: Published

Data sourced from Thomson Reuters' Web of Knowledge

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