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Feasibility Study Of Variance Reduction In The Logistics Composite Model, George P. Cole Iii
Feasibility Study Of Variance Reduction In The Logistics Composite Model, George P. Cole Iii
Theses and Dissertations
The Logistics Composite Model (LCOM) is a stochastic, discrete-event simulation that relies on probabilities and random number generators to model scenarios in a maintenance unit and estimate optimal manpower levels through an iterative process. Models such as LCOM involving pseudo-random numbers inevitably have a variance associated with the output of the model for each run, and the output is actually a range of estimates. The reduction of the variance in the results of the model can be costly in the form of time for multiple replications. The alternative is a range of estimates that is too wide to realistically apply …