Journal of Applied Sciences1812-56541812-5662Asian Network for Scientific Information10.3923/jas.2009.113.120MojtahediS.M.H.MousaviS.M.AminianA.1200991The aim of this study is to propose one practical approach
to use non-parametric bootstrap technique in risk management processes
especially for analyzing risk factor data, because of the fact that in
most decision making cases data sizes and expert`s comments are too small
for analyzing risk factor data or often there are no parametric distributions
on which significance can be estimated; therefore, standard statistical
techniques do not always provide answers to complex risks questions. The
non-parametric bootstrap is a powerful technique for assessing the accuracy
of a parameter estimator in situations where conventional techniques are
not valid and also non-parametric bootstrap technique is extremely valuable
in situations where data sizes are too small. Bootstrap technique for
decreasing the SD of risk factor data is described as well. Confidence
intervals for risk factors are also obtained by means of bootstrap resampling
technique. To make it more understandable, an application example is also
provided. It can be concluded from the example that bootstrap will produce
more accurate results in comparison with conventional techniques.]]>Ait-Sahalia, Y. and J. Duarte,2003Chapman, C. and S. Ward, 2004.2004Cho, H.N., H.H. Choi and Y.B. Kim,2002Chun, M. and K. Ahn,1992Cooper, D.F., S. Grey, G. Raymond and P. Walker,2005Dikmen, I., M.T. Birgonul, C. Anac, J.H.M. Tah and G. Aouad,2008Duijne, F.H.V., D.V. Aken and E.G. Schouten,2008Efron, B.,1979Efron, B. and R.J. Tibshirani,1993Groen, F.J., C. Smidts and A. Mosleh,2006Han, S.H., D.Y. Kim, H. Kim and W.S. Jang,2008Henderson, A.R.,2005Hu, A.H., C.W. Hsu, T.C. Kuo and W.C. Wu,2008Kerzner, H.,2006Li, Y. and X. Liao,2007Majdara, A. and M.R. Nematollahi,2008Modarres, R., T.P. Hui and G. Zheng,2006Smith, N.J.,1999Stark, E. and M. Abeles,2005Tak, K.M.,2004Walters, S.J. and M.J. Campbell,2005Wang, Y.M. and T.M.S. Elhag,2006Wang, Y.M. and T.M.S. Elhag,2007William, A.C. and A.P. Joseph,2005Armitage, P., G. Berry and J.N.S. Matthews,2002Heiermann, K., H. Riesch-Oppermann and N. Huber,2005