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THE CASE RUNS
RESULTS OF THE SIMULATION
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assumptions Bayes approach Bayes High-Confidence BAYES INVENTORY POLICY Bayes policy appears Bayes policy costs BISTIMATED calculation of functions Clearinghouse Comparison of Dynamic Comparison of Policy conservatism cost is high cost to unit Costs Estimated Mean COSTS--CASE 1 ESTIMATED COSTS--CASE 9 ESTIMATED demand distributions demand is underestimated Demand Per Period dynamic programming calculation dynamic programming policy dynamic programming recomputation estimated mean demand family of demand future demand Gamma distribution Gamma family Herbert Scarf high-confidence Bayes initial estimated mean initial guess initial provisioning Inventory Problem mand overestimated parameters parametric family past observed demands policies were computed Policy Costs Estimated Policy Costs--Case priori distribution probability distribution program length programming recomputation policy programming recomputation procedure Programming with Recomputation purchase cost putation recom Recomputation and Bayes SC/UC Scientific Abstracts set of graphs setup cost shortage cost simulation single variable straight dynamic programming TECHNICAL INFORMATION total cost true mean demand U.S. Government unit cost ratio