On choosing a family of probability distributions for lead time demand
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Author
Richards, Francis Russell
Thomas, Marlin Uluess
Date
1974-02Metadata
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The problem of selecting an appropriate family of probability distributions to be used in the procedures for forecasting future demands is examined. Using the principle of maximum entropy and other practical considerations, the gamma family is shown to result from conditions typical of those in the Naval Supply System. On considering other decision criteria based on measures of supply effectiveness, the gamma family is shown to be superior to the family of distribution presently in use
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This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.NPS Report Number
NPS-55Rh74021Related items
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