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Illustrating the Future Prediction of Performance Based on Computer Code,

Summary: [This abstract is based on the authors' abstract.] A generic example is used to illustrate aspects to consider when making future predictions of population performance. A better understanding of the role of these sources of information allows upper management to make more informed decisions regarding allocation of scarce resources. It is shown how a Bayesian approach permits inferences about unknown parameters and predictions to be made in a consistent framework.

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  • Topics: Design of Experiments, Problem Solving
  • Keywords: Bayesian methods, Bias, Corrective action, Monte Carlo methods, Markov chains
  • Author: Hamada, M. S.; Higdon, D. M.
  • Journal: Quality Engineering