Best Business Practices for Optimizing Producer's and Consumer's Risks: Innovating Type-I and Type-II Error Probabilities with Game-Theory for Realistic OC Curves in Acceptance Sampling Plans - Couverture souple

Sahinoglu, Mehmet

Couverture souple

ISBN 10 : 6135830317 ISBN 13 : 9786135830316

Editeur : LAP LAMBERT Academic Publishing, 2018

Synopsis

What should constitute suitably the cost-optimal values of alpha and beta in tests of hypotheses regarding the producer’s and consumer’s risks in a business setting? This is not a question to answer unequivocally for all situations. When establishing a test procedure to investigate statistically the credibility of a stated hypothesis, several factors must be considered one of which is the size of the sample. However, the most significant of all these factors is unquestionably to optimize Type I and II errors. Statisticians have by rule of thumb selected, such as α=0.05, none for β depending on the alternative hypothesis at hand. Although, common logic usually played a major role such as in the case of testing null hypothesis of the patient being sick needs a fairly significant size of type I error lest we lose the patient if we reject that she is sick while she truly is sick and probably dying. But all these previous up-to-date arguments are not somewhat connected with cost or utility of producer's and consumer's risks in the sense of quality control or life sciences or in the cyber-risk domain or other manufacturing industries while testing a hypothesis of a good product vs. bad.

Détails de l'édition

• Éditeur: LAP LAMBERT Academic Publishing
• Date d'édition: 2018
• Langue: anglais
• ISBN 10: 6135830317
• ISBN 13: 9786135830316
• Reliure: Broché
• Nombre de pages: 68
• Coordonnées du fabricant: non disponible
• Personne responsable: KreGa Onlinehandel GmbH; 4950000000000; info@krega-onlinehandel.de; ; Birkenweg 31; Brakel; 33034; Allemagne