Multivariate ranking and selection procedures with an application to overseas trade : a thesis presented in partial fulfillment of the requirements for the degree of Master of Arts in Statistics at Massey University

Abstract

An overview of some recent work in the field of Ranking and Selection with emphasis on aspects important to experimenters confronted with Multivariate Ranking and Selection problems is presented. Ranking and Selection procedures fall into two basic categories. They are: 1) Indifference Zone Approach 2) Subset Selection Approach. In these approaches, the multivariate parameters are converted to univariate parameters. Various procedures using these real valued functions are given for both the Indifference Zone Approach and the Subset Selection Approach. A new formulation that has recently been developed which selects the best multivariate population without reducing populations to univariate quantities is also described. This method is a Multivariate Solution to the Multivariate Ranking and Selection problem. Finally a real life problem pertaining to New Zealand's overseas trade is discussed in the context of Multivariate Ranking.