Selecting a good system: Procedures and inference

Selecting a good system: Procedures and inference

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Article ID: iaor20022570
Country: United States
Volume: 33
Issue: 3
Start Page Number: 149
End Page Number: 166
Publication Date: Mar 2001
Journal: IIE Transactions
Authors: ,
Keywords: simulation: analysis, statistics: inference
Abstract:

We present two-stage experiment designs for use in simulation experiments that compare systems in terms of their expected (long-run average) performance. These procedures simultaneously achieve the following with a prespecified probability of being correct: (i) find the best system or a near-best system; (ii) identify a subset of systems that are more than a practically insignificant difference from the best; and (iii) provide a lower confidence bound on the probability that the best or near-best system will be selected. All of the procedures assume normally distributed data, but versions allow unequal variances and common random numbers.

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