A fully Bayesian approach for sample size determination
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Safaie, Nasser (2010). A fully Bayesian approach for sample size determination. -- In Proceedings: 6th Annual Symposium: Graduate Research and Scholarly Projects. Wichita, KS: Wichita State University, p. 177-178
The sample size determination plays a significant role in design and analysis of many engineering problems plus data sampling projects. There is a number of sampling techniques including both classical as well as Bayesian techniques and only some of them consider the economical aspect. The objective of this paper is to offer an economic Bayesian approach for determination of sample size. Mathematical models are derived and used to establish implementation boundaries from economic and technical viewpoints. In addition, numerical examples are used to highlight the economic advantages of Bayesian approach. Using simulated data, the performance of the proposed approach is compared to the classical methods in terms of the number of sample size criterion.
Paper presented to the 6th Annual Symposium on Graduate Research and Scholarly Projects (GRASP) held at the Hughes Metropolitan Complex, Wichita State University, April 23, 2010.
Research completed at the Department of industrial and Manufacturing Engineering, College of Engineering