Motivated by extreme-value engineering in service systems, we develop and evaluate simple approximations for the distributions of maximum values of queueing processes over large time intervals. We provide approximations for several different processes, such as the waiting times of successive customers, the remaining workload at an arbitrary time, and the queue length at an arbitrary time, in a ...

Various volatility estimators and models have been proposed in the literature to measure volatility of asset returns. In this paper, we compare empirical performance of various unconditional volatility estimators and conditional volatility models (GARCH and EGARCH) using time-series data of S&PCNX Nifty, a value-weighted index of 50 stocks traded on the National Stock Exchange (NSE), Mumbai. Th...

Medical statistics (biostatistics), as a vital essential part of modem life, does raise some fundamental ethical issues. Surprisingly, this aspect seems to have been totally ignored by books on medical ethics. This paper discusses how the statistical aspects affect the ethics. The relation between biostatistics and medical research is explored. All stages of a medical research exercise are ...

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Random search strategies occur throughout nature as a means of efficiently searching large areas for one or more targets of unknown location, which can only be detected when the searcher is within a certain range. Examples include animals foraging for food or shelter, the motor-driven transport and delivery of macromolecules to particular compartments within cells, and a promoter protein search...

medical statistics (biostatistics), as a vital essential part of modem life, does raise some fundamental ethical issues. surprisingly, this aspect seems to have been totally ignored by books on medical ethics. this paper discusses how the statistical aspects affect the ethics. the relation between biostatistics and medical research is explored. all stages of a medical research exercise are vuln...