AN ANALYTICAL COMPARISON OF SEVERAL STATISTICAL TECHNIQUES FOR THE PREDICTION OF DEMAND.
Abstract
The purpose of this investigation was to compare three generally accepted statistical decision-making techniques with reference to their applicability to the problem of demand prediction. The three techniques are: (1) a modified Bayesian Decision-Making procedure, (2) a modified C-Chart procedure, and (3) a Sequential Decision procedure which includes the use of the Likelihood-Ratio Test. The investigation was confined to the problem of demand prediction which is an integral part of the over-all problem of provisioning and inventory policies. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- May 01, 1965
- Accession Number
- AD0611791
Entities
People
- Edward Louis Uher
Organizations
- Texas Tech University