On choosing a family of probability distributions for lead time demand
By: [by] F. Russell Richards and Marlin U. Thomas
Contributors: Thomas, Marlin Uluess; Naval Postgraduate School (U.S.)
Publisher: Naval Postgraduate School
Published: 1974
Place of publication: Monterey, Calif
Language: eng
Number of pages: 24
Subjects: Mathematical models; Inventory control
Description: The problem of selecting an appropriate family of probability distributions to be used in the procedures for forecasting future demands is examined. Using the principle of maximum entropy and other practical considerations, the gamma family is shown to result from conditions typical of those in the Naval Supply System. On considering other decision criteria based on measures of supply effectiveness, the gamma family is shown to be superior to the family of distribution presently in use.
Notes: Title from cover.

"Prepared for: Naval Supply Systems Command"--Cover.

"February 1974"--Cover.

"NPS-55Rh74021"--Cover.

Author(s) subject terms: Demand distributions, inventory control, measures of effectiveness.

Includes bibliographical references (p. 22).

"Approved for public release; distribution unlimited"--Cover.

Technical report; 1974.