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Author Wertz, Kenneth ♦ Wonnacott, Thomas H. ♦ Naylor, Thomas H.
Source ACM Digital Library
Content type Text
Publisher Association for Computing Machinery (ACM)
File Format PDF
Language English
Abstract This paper addresses itself to the problem of analyzing data generated by computer simulations of economic systems. We first turn to a hypothetical firm, whose operation is represented by a single-channel, multistation queueing model. The firm seeks to maximize total expected profit for the coming period by selecting one of five operating plans, where each plan incorporates a certain marketing strategy, an allocation of productive inputs, and a total cost.The results of the simulated activity under each plan are subjected to an F-test, two multiple comparison methods, and a multiple ranking method. We illustrate, compare, and evaluate these techniques. The paper adopts the position that the particular technique of analysis (possibly not any one of the above) chosen by the experimenter should be an expression of his experimental objective: The F-test tests the homogeneity of the plans; multiple comparison methods quantify their differences; and multiple ranking methods directly identify the one best plan or best plans.
Description Affiliation: Duke Univ., Durham, NC (Naylor, Thomas H.; Wertz, Kenneth; Wonnacott, Thomas H.)
Age Range 18 to 22 years ♦ above 22 year
Educational Use Research
Education Level UG and PG
Learning Resource Type Article
Publisher Date 2005-08-01
Publisher Place New York
Journal Communications of the ACM (CACM)
Volume Number 10
Issue Number 11
Page Count 8
Starting Page 703
Ending Page 710

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Source: ACM Digital Library