Communications for Statistical Applications and Methods

The Korean Statistical Society (한국통계학회)
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Optimal Value Estimation Method with Lower and Upper Bounds

  • Chong Sun (Professor, Department of Statistics, Sungkyunkwan University) ;
  • Youn Jong (Associate Professor Department of Computer Science and Statistics Yongin University) ;
  • Jong Seok (Assistant Professor, Department of Statistics and Information, Hanshin University)
  • Published : 2000.04.01
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Abstract

As one of indirect ways to get an optimal answer for sensitive questions both lower and upper values are sometimes asked and collected. In this paper a statistical method is proposed to analyze this kind of data using graphics. This method could define each sample median and estimate an optimal value between lower and upper bounds. In particular we find that this method has similar explanations of an equilibrium price with demand and supply functions in Economics.

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References

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