TWO-ACTION COMPOUND DECISION PROBLEMS.
STANFORD UNIV CALIF DEPT OF STATISTICS
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Asymptotically optimal methods are given for deciding between two alternative actions in situations such as those occurring in routine lot by lot acceptance sampling where essentially the same decision problem arises repeatedly and accumulated past information can be used to advantage. A linear cost structure is used and no assumptions are made concerning the existence of a priori probability distributions of the relevant unknown parameters. Procedures are given which take advantage of empirical dependencies appearing in the sequences of unknown parameter values. Rates of convergence to optimality are obtained. Author
- Numerical Mathematics
- Manufacturing and Industrial Engineering and Control of Production Systems