Revolutionizing statistical analysis for more accurate decision-making in business models.
The article discusses how statistical analysis can be applied to DEA models, which are used to measure efficiency in various industries. By defining a data generating process, researchers can create a statistical model to analyze DEA estimators. The study highlights the need for tools like the bootstrap method to perform practical statistical inference. The approach by Simar and Wilson in 1995 is described as a consistent way to apply the bootstrap method. The researchers also suggest introducing stochastic noise in DEA models to improve their accuracy.