Sequential variable sampling plan for normal distribution

Sequential variable sampling plan for normal distribution

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Article ID: iaor20084199
Country: Netherlands
Volume: 172
Issue: 1
Start Page Number: 127
End Page Number: 145
Publication Date: Jul 2006
Journal: European Journal of Operational Research
Authors: , , ,
Keywords: markov processes
Abstract:

In this paper, a sequential variable sampling plan is studied. Suppose that the quality of an item in a batch is measured by a normally distributed random variable with a known variance, but the mean is unknown with a normal prior distribution. Then by using Bayesian approach and considering a Markov decision process, the optimality equations for the minimum total expected cost are formulated. We show that an optimal decision rule will have a control limit structure. An algorithm for a sequence of ε-optimal decisions is introduced. Then, the statistical procedure for conducting the sequential sampling plan is presented.

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