Simulation with Arena
Simulation Modeling and Analysis
Simulation Modeling and Analysis
Comparisons with a Standard in Simulation Experiments
Management Science
Comparison of limit standards using a sequential probability ratio test
Proceedings of the 38th conference on Winter simulation
A Bayesian approach to analysis of limit standards
Proceedings of the 39th conference on Winter simulation: 40 years! The best is yet to come
Comparison of Bayesian priors for highly reliable limit models
Proceedings of the 40th Conference on Winter Simulation
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This paper describes on-going research, where we compare, via simulation experiments, a stochastic system to a standard. We are particularly interested in a subset of standards we call limit standards. A limit standard is a maximum or minimum benchmark derived from requirements, another model, or the actual system. The problem is to determine if a system meets the limit standard at customer-defined probabilities. Then, for those systems that meet the limit standard, identify which system is the "best," or results in the lowest probability of reaching the standard. Current comparison methods are based on expected value and cannot solve this type of problem. We outline a two-step approach, using methods from acceptance sampling and ordered statistics, to solve this problem.