THE ANALYSIS OF INVENTORY DATA - TO TEST OR TO ESTIMATE?

Year
1980
Author(s)
A.J. Woods - Department of Applied Statistics,
A.J. Woods - Department of Applied Statistics,
D.J. Pike - Department of Applied Statistics
D.M. Rose - Department of Applied Statistics
Abstract
The main emphasis in the analysis of inventory data has been on the development of estimators which are optimal for particular loss scenarios. The use of these estimators as test statistics will be discussed and criticised. Problems arise in determining the significance level of the tests when they are performed sequentially. Furthermore, for a given loss scenario, the optimal estimator may well not be the optimal test statistic.