The Basket Method for Selecting Balanced Samples. Part II. Applications to Price Estimation.

Abstract

The Basket Method of sampling, a tool designed to achieve statistically balanced samples, is described in intuitive terms. Special reference is made to applications in price analysis where experience has demonstrated the practicality of the technique. The intent is to provide an overview of what the system is intended to do and how it does it in order to assist price analysts and negotiators expedite proposal processing while maintaining acceptable levels of risk. Guidelines and examples are given for implementing a statistical pricing program tailored to local conditions. Underlying theory and documented computer codes are provided separately in Part I and Part III, respectively. (Author)

Open PDF

Document Details

Document Type
Technical Report
Publication Date
Dec 01, 1981
Accession Number
ADA112949

Entities

People

  • K. T. Wallenius

Organizations

  • Clemson University

Tags

Communities of Interest

  • Ground and Sea Platforms
  • Space
  • Weapons Technologies

DTIC Thesaurus Topics

  • Algorithms
  • Computational Science
  • Computations
  • Computer Programs
  • Contractors
  • Contracts
  • Data Science
  • Data Sets
  • Databases
  • Information Science
  • Procurement
  • Sampling
  • Simulations
  • Statistical Algorithms
  • Statistical Analysis
  • Statistical Sampling
  • Statistics

Readers

  • Business Analytics
  • Instructional Design and Training Evaluation.
  • Systems Analysis and Design