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Mean selection for a filling process with implications to 'Weights and Measures' requirements

Violetta Iwona Misiorek,Neil S Barnett-1996-05-01-Victoria University Research Repository (Victoria University)

TL;DRAbstract

This paper considers the problem of optimally choosing the mean of a filling process for three model variations.Optimality is defined as that setting which maximises expected profit.Issues considered include waste, overfill, top-up and the additional filling costs of items not initially meeting requirements.Model solutions are displayed graphically.The effect of change of the process variance on the optimal solution as well as on the expected profit are both discussed.Implications to 'Weights and Measures' requirements of following this optimality path are provided with particular reference to loss in expected profit.The algorithms to obtain both the optimal mean and the probability of meeting Weights and Measures Legislation requirements, are also shown.

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This paper considers the problem of optimally choosing the mean of a filling process for three model variations.Optimality is defined as that setting which maximises expected profit.Issues considered include waste, overfill, top-up and the additional filling costs of items not initially meeting requirements.Model solutions are displayed graphically.The effect of change of the process variance on the optimal solution as well as on the expected profit are both discussed.Implications to 'Weights and Measures' requirements of following this optimality path are provided with particular reference to loss in expected profit.The algorithms to obtain both the optimal mean and the probability of meeting Weights and Measures Legislation requirements, are also shown.

Keywords

Process (computing)Selection (genetic algorithm)Computer scienceEconometricsMathematicsStatisticsRisk analysis (engineering)Business

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