Estimation of optimal profit for a production process with unknown variance

Estimation of optimal profit for a production process with unknown variance

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Article ID: iaor19952027
Country: United Kingdom
Volume: 33
Issue: 8
Start Page Number: 2125
End Page Number: 2131
Publication Date: Aug 1995
Journal: International Journal of Production Research
Authors: ,
Keywords: financial
Abstract:

This paper addresses the problem of estimating the expected profit for an automatic filling operation when the standard deviation of the filling process is unknown. For 100% inspection, a procedure is developed for obtaining an estimated confidence interval for the expected profit.

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