Application of the Sufficient Empirical Averaging Method for Inventory Control Problem Solving

Proceedings of the International Conference "Biostat 2006 – Statistical Methods for Biomedilal and Technical Systems" 2006
Jevgeņijs Kopitovs, Jekaterīna Žukovska

In this article the so-called Sufficient Empirical Averaging (SEA) method is used for inventory control problem solving. it assumes the existence of the complete sufficient statistics for unknown parameters of the distributions. The application of this method allows getting unbiased estimaters with minimum variance.

Keywords
inventory control, estimation, sufficient statistics

Kopitovs, J., Žukovska, J. Application of the Sufficient Empirical Averaging Method for Inventory Control Problem Solving. In: Proceedings of the International Conference "Biostat 2006 – Statistical Methods for Biomedilal and Technical Systems", Cyprus, Limassol, 29 May-1 Jun., 2006. Limassol: Nicosia, 2006, pp.341-346.

Publication language
English (en)