A New Approach to Estimate the Critical Constant of Selection Procedures.pdfVIP

Hindawi Publishing Corporation Advances in Decision Sciences Volume 2010, Article ID 948359, 12 pages doi:10.1155/2010/948359 Research Article A New Approach to Estimate the Critical Constant of Selection Procedures E. Jack Chen1 and Min Li2 1 Business Systems, BASF Corporation, 333 Mount Hope Avenue, Rockaway, NJ 07866-0909, USA 2 College of Business Administration, California State University, Sacramento, 6000 J Street, Sacramento, CA 95819-6088, USA Correspondence should be addressed to E. Jack Chen, e.jack.chen@ Received 12 March 2009; Revised 26 September 2009; Accepted 8 January 2010 Academic Editor: Eric J. Beh Copyright q 2010 E. J. Chen and M. Li. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. A solution to the ranking and selection problem of determining a subset of size m containing at least c of the v best from k normal distributions has been developed. The best distributions are those having, for example, i the smallest means, or ii the smallest variances. This paper reviews various applicable algorithms and supplies the operating constants needed to apply these solutions. The constants are computed using a histogram approximation algorithm and Monte Carlo integration. 1. Introduction Discrete-event simulation has been widely used to compare alternative system designs or operating policies. When evaluating k alternative system designs, we select one or more systems as the best and control the probability that the selected systems really are the best. This goal is achieved by using a class of ranking and selection RS procedures in simulation see 1 for a detailed descr