Electronic Journal of Mathematical

and Physical Sciences

 

 

ISSN 1538-3318
© 2002 by EJMAPS

www.ejmaps.org

 

A Technical Note on 1. Classical verses Bayesian Economic Cost Plans

Abraham F. Jalbout ^1*$, Hadi Y. Alkahby ², Fouad N. Jalbout ³ , Abdulla Darwish ³

¹Department of Chemistry, University of New Orleans, New Orleans, LA 70148-2820 USA, E-mail: Ajalbout@ejmaps.org

²Department of Mathematics, Dillard University, New Orleans, LA 70112 USA

³Department of Physics and Engineering, Dillard University, New Orleans, LA 70112 USA

 

*Author to whom correspondence should be addressed.

^$ Invited speaker in the Natural Sciences Division for the Dillard University Seminar Series

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

 

 

© 2002 by EJMAPS (http://www.ejmaps.org). Reproduction for noncommercial purposes permitted