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The application of sequential sampling to simulation: an example inventory model

By W. Earl Sasser, Donald S. Burdick, Daniel A. Graham, Thomas H. Naylor

Communications of the ACM, Vol. 13 No. 5, Pages 287-296

Four different sequential sampling procedures are applied to the analysis of data generated by a computer simulation experiment with a multi-item inventory model. For each procedure the cost of computer time required to achieve given levels of statistical precision is calculated. Also the cost of computer time using comparable fixed sample size methods is calculated. The computer costs of fixed sample size procedures versus sequential sampling procedures are compared.

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