A statistician has to decide on the basis of a
A statistician has to decide on the basis of a single observation whether the parameter θ of the density
Equals θ1 or θ2, where θ1 < θ2. If he decides on θ1 when the observed value is less than the constant k, on θ2 when the observed value is greater than or equal to the constant k, and he is fined C dollars for making the wrong decision, which value of k will minimize the maximum risk?
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