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Economic screening procedures using a correlated variable with multidecision alternatives

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  • Do Sun Bai
  • Sung Hoon Hong

Abstract

Economic screening procedures using a correlated variable are developed for selecting markets in situations when there are several markets with different profit/ cost structures. It is assumed that the performance variable and the screening variable are jointly normally distributed. Profit models are constructed which involve three profit/cost components: profit from a conforming item, cost from an accepted nonconforming item, and screening inspection cost. Methods of finding the optimal screening procedures are presented and numerical examples are given.

Suggested Citation

  • 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.
    • Handle: RePEc:wly:navres:v:39:y:1992:i:4:p:471-485
    DOI: 10.1002/1520-6750(199206)39:43.0.CO;2-I
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    References listed on IDEAS

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    1. 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.
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    Cited by:

    1. R. J. Boys & K. D. Glazebrook & D. J. Laws, 1996. "A class of Bayes‐optimal two‐stage screens," Naval Research Logistics (NRL), John Wiley & Sons, vol. 43(8), pages 1109-1125, December.
    2. Do Sun Bai & Hyuck Moo Kwon & Min Koo Lee, 1995. "An economic two‐stage screening procedure with a prescribed outgoing quality in logistic and normal models," Naval Research Logistics (NRL), John Wiley & Sons, vol. 42(7), pages 1081-1097, October.
    3. Bai, Do Sun & Lee, Min Koo, 1995. "Minimum cost single and double screening procedures with dichotomous performance variable," International Journal of Production Economics, Elsevier, vol. 39(3), pages 255-264, May.
    4. Hong, Sung Hoon & Kim, Sang Boo & Kwon, Hyuck Moo & Lee, Min Koo, 1998. "Economic design of screening procedures when the rejected items are reprocessed," European Journal of Operational Research, Elsevier, vol. 108(1), pages 65-73, July.

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