Sequential Stopping Rules for Fixed-Sample Acceptance Tests

R. C. Chang and S. Ehrenfeld
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R. C. Chang: Chemical Bank, New York, New York
S. Ehrenfeld: New York University, New York, New York

Operations Research, 1974, vol. 22, issue 1, 100-107

Abstract: This paper discusses optimal stopping rules for fixed-sample acceptance tests where the observations with time delays are obtained sequentially. It studies two cases, one with a known prior distribution and the other one without a prior distribution, discusses Bayes-optimal and minimax stopping rules, and considers a stopping rule using the maximum likelihood estimate of θ, the probability of a single success. An example is given assuming that the prior distribution is a beta distribution. It is shown that the Bayes-optimal stopping rule thus obtained approaches the stopping rule using the maximum likelihood estimate when the beta parameters, α and β, approach zero.

Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:22:y:1974:i:1:p:100-107

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