A Note on Nature and Significance of Stochastic Models
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Wolfgang Sans
Abstract
Stochastic modelling has become a scientific catchword in many branches of science and in particular in quality theory. However, there are many misunderstandings concerning the term, and in many cases it is used wrongly. Therefore, this paper aims at introducing stochastic models, their nature and their significance.
On any level of society decisions have to be made about actions aiming at controlling future developments. In particular this is true in the realm of quality control and quality assurance. The foundation for a good decision is necessarily a reliable prediction and, therefore, the development of appropriate prediction procedures constitutes the major task in quality control. Any reliable prediction procedure is necessarily based on a stochastic model implying that the development of stochastic models is of fundamental importance not only for the control of quality.
© Heldermann Verlag
Articles in the same Issue
- A Note on Run Length Variability Reduction for EWMA Charting
- A Note on Nature and Significance of Stochastic Models
- Estimation of Pareto Survival Function in the Presence of Outlying Observations
- Loss Reduction in Point Estimation Problems
- Application of Arithmetic-Geometric Mean Inequality for Construction of Reliability Test Plan for Parallel Systems in the Presence of Covariates
- On Bayesian Estimation in a Parallel System
- Approximating Reliability of a System with Doubly Bounded Performance Functions
- Probability Weighted Moments Approach to Quality Control Charts
- Weibull Extension of Bivariate Exponential Regression Model with Gamma Frailty for Survival Data
- Nonlinear Tobit Decomposition
- Reliability Test Plans for Exponentiated Log-Logistic Distribution
- Transient Analysis of a System with Queue Dependent Servers and Controllable Arrivals
Articles in the same Issue
- A Note on Run Length Variability Reduction for EWMA Charting
- A Note on Nature and Significance of Stochastic Models
- Estimation of Pareto Survival Function in the Presence of Outlying Observations
- Loss Reduction in Point Estimation Problems
- Application of Arithmetic-Geometric Mean Inequality for Construction of Reliability Test Plan for Parallel Systems in the Presence of Covariates
- On Bayesian Estimation in a Parallel System
- Approximating Reliability of a System with Doubly Bounded Performance Functions
- Probability Weighted Moments Approach to Quality Control Charts
- Weibull Extension of Bivariate Exponential Regression Model with Gamma Frailty for Survival Data
- Nonlinear Tobit Decomposition
- Reliability Test Plans for Exponentiated Log-Logistic Distribution
- Transient Analysis of a System with Queue Dependent Servers and Controllable Arrivals
