Bayesian Economic Cost Plans
I. Comparison to Classical Plans
1Department of Physics
and Engineering, Dillard University, New Orleans, LA 70112 USA
2Department of
Chemistry, University of New Orleans, New Orleans, LA 70148-2820 USA, E-mail: Ajalbout@ejmaps.org
*Author to whom
correspondence should be addressed. $ Speaker at the 15th
Annual Conference on Applied Mathematics (CAM), University of Central Oklahoma,
February 12-13, 1999
Received: 12 December
2001 / Accepted: 2 January 2002/Published: 15 January 2002
Abstract: The
primary focus of this work is to specify the basic parameters in terms of prior
distributions and finding the appropriate conditional posterior distributions
to affect the transformation. The principle parameters include the upper and
lower limit for the process’s quality characteristic X, its mean μ, and
the standard deviation, the materials fraction defective p, the sample size n,
and the lot size N. The Bayesian model’s posterior distributions are derived
using known priors as functions of these parameters.
Keywords: Bayesian, cost model, comparison, lot size,
fraction defective
AMS Mathematical Subject Classification: 46N30, 62-06,62P30
Document Summary:
History |
Received:
12 December 2001 / Accepted: 2 January 2002/Published: 15 January 2002 |
Subject |
Quality
control, engineering |
AMS Codes |
|
Keywords |
Bayesian analysis, cost model, comparison, lot size, fraction defective |
Doc type |
Lecture series, seminar edition of EJMAPS |
Edition |
Electronic Journal of
Mathematical and Physical Sciences Conference/Seminar Edition [ISSN:
1538-3318] |
© 2002 by EJMAPS (http://www.ejmaps.org). Reproduction for noncommercial purposes permitted