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Economic design of sampling plans with multi‐decision alternatives

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  • Do Sun Bai
  • Sung Hoon Hong

Abstract

For situations where there are several markets with different profit‐cost structures, economic attributes sampling plans are developed for determining the market to ship the lot to. Two sampling plans are considered; the fixed‐size sampling plan with several levels of acceptance numbers, and the inverse sampling plan with several levels of sample sizes. Linear profit models are constructed which involve four profit/cost components; profit from a conforming item, inspection cost, replacement cost, and cost from an accepted nonconforming item. For fixed‐size and inverse sampling plans, methods of finding optimal sampling plans are presented and examples with beta‐binomial prior distributions are given.

Suggested Citation

  • Do Sun Bai & Sung Hoon Hong, 1990. "Economic design of sampling plans with multi‐decision alternatives," Naval Research Logistics (NRL), John Wiley & Sons, vol. 37(6), pages 905-918, December.
    • Handle: RePEc:wly:navres:v:37:y:1990:i:6:p:905-918
    DOI: 10.1002/1520-6750(199012)37:63.0.CO;2-W
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    References listed on IDEAS

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    1. Kenneth E. Case & Shao‐Shing Chen, 1985. "Some recent findings in bayesian attribute single and double sampling," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 32(1), pages 71-79, February.
    2. George Tagaras & Hau L. Lee, 1987. "Optimal Bayesian single‐sampling attribute plans with modified beta prior distribution," Naval Research Logistics (NRL), John Wiley & Sons, vol. 34(6), pages 789-801, December.
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    Cited by:

    1. Do Sun Bai & Sung Hoon Hong, 1992. "Economic screening procedures using a correlated variable with multidecision alternatives," Naval Research Logistics (NRL), John Wiley & Sons, vol. 39(4), pages 471-485, June.

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