Accession Number : ADA112949

Title :   The Basket Method for Selecting Balanced Samples. Part II. Applications to Price Estimation.

Descriptive Note : Technical rept.,

Corporate Author : CLEMSON UNIV SC DEPT OF MATHEMATICAL SCIENCES

Personal Author(s) : Wallenius,K T

PDF Url : ADA112949

Report Date : Dec 1981

Pagination or Media Count : 56

Abstract : The Basket Method of sampling, a tool designed to achieve statistically balanced samples, is described in intuitive terms. Special reference is made to applications in price analysis where experience has demonstrated the practicality of the technique. The intent is to provide an overview of what the system is intended to do and how it does it in order to assist price analysts and negotiators expedite proposal processing while maintaining acceptable levels of risk. Guidelines and examples are given for implementing a statistical pricing program tailored to local conditions. Underlying theory and documented computer codes are provided separately in Part I and Part III, respectively. (Author)

Descriptors :   *Statistical samples, *Statistical inference, Estimates, Cost analysis, Selection, Contract proposals, Cost estimates, Computer applications, Sampling

Subject Categories : Statistics and Probability

Distribution Statement : APPROVED FOR PUBLIC RELEASE