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What is Critical Constant

Encyclopedia of Business Analytics and Optimization
In ranking and selection, the critical constant is a required parameter for computing the required sample sizes and is the P * quantile of the difference of two specific random values.
Published in Chapter:
Order Statistics in Simulation
E Jack Chen (BASF Corporation, USA)
Copyright: © 2014 |Pages: 12
DOI: 10.4018/978-1-4666-5202-6.ch156
Abstract
Order statistics refer to the collection of sample observations sorted in ascending order and are among the most fundamental tools in non-parametric statistics and inference. Statistical inference established based on order statistics assumes nothing stronger than continuity of the cumulative distribution function of the population and is simple and broadly applicable. We discuss how order statistics are applied in computer simulation, e.g., tests of independence, tests of goodness of fit, hypothesis tests of equivalence of means, ranking and selection, and quantiles estimation. These order-statistics techniques are key components of many simulation studies.
Full Text Chapter Download: US $37.50 Add to Cart
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Order Statistics and Applications
In ranking and selection, the critical constant is a required parameter for computing the required sample sizes and is the quantile of the difference of two specific random values.
Full Text Chapter Download: US $37.50 Add to Cart
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