In this paper, a group acceptance sampling plan (GASP) is introduced for the situations when lifetime of the items follows the generalized Pareto distribution. The design parameters such as minimum group size and acceptance number are determined when the consumer's risk and the test termination...

In the classical approach to statistical hypothesis testing the role of the null hypothesis H0 and the alternative H1 is very asymmetric. Power, calculated from the distribution of the test statistic under H1, is treated as a theoretical construct that can be used to guide the choice of an...

In this paper, a group acceptance sampling plan (GASP) is introduced for the situations when lifetime of the items follows the generalized Pareto distribution. The design parameters such as minimum group size and acceptance number are determined when the consumer's risk and the test termination...

The Business Cycle Dating Committee (BCDC) of the National Bureau of Economic Research provides a historical chronology of business cycle turning points. This paper investigates three central aspects about this chronology: (1) How skillful is the BCDC in classifying economic activity into...

This paper considers the problem of an acceptance sampling plan for a truncated life test when the lifetime follows the three parameter Kappa distribution. For different acceptance numbers, confidence levels and values of the ratio of the fixed experiment time to the specified lower bound of the...

Evaluation methodologies for rare events from meteorology, psychology and medical diagnosis are used to examine the value of probabilistic forecasts of real GDP declines during the current quarter (Q0) and each of the next four quarters (Q1–Q4) using data from the Survey of Professional...

We analyze a finite horizon, single product, periodic review model in which pricing and production/inventory decisions are made simultaneously. Demands in different periods are random variables that are independent of each other and their distributions depend on the product price. Pricing and...