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Five Popular Probability Density Functions: A Comparison in the Field of Stock-Control Models

 

作者: FortuinLeonard,  

 

期刊: Journal of the Operational Research Society  (Taylor Available online 1980)
卷期: Volume 31, issue 10  

页码: 937-942

 

ISSN:0160-5682

 

年代: 1980

 

DOI:10.1057/jors.1980.169

 

出版商: Taylor&Francis

 

数据来源: Taylor

 

摘要:

AbstractFor the statistical description of a demand process, many probability density functions (pdf) are available, each having its advantages and drawbacks. How do they compare when in application? Is it true that the shape of the pdf is not relevant? This paper deals with one application, namely a simple s,Q stock control system. Assuming for the lead time demand successively five different pdf's (Gaussian, logistic, gamma, log-normal, Weibull) and using the service level as a criterion, it is shown that for this application (1) the numerical differences between the selected functions are in fact negligible; (2) the logistic pdf produces a formula that only contains elementary transcendental functions; (3) the other pdf's lead to much more complex expressions.

 

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