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A MODEL FOR EVALUATING IMPERFECT CONTROL SYSTEMS
Author(s) -
Hannum William H.
Publication year - 1974
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1974.tb00618.x
Subject(s) - imperfect , computer science , variety (cybernetics) , process (computing) , sensitivity (control systems) , perfect information , control (management) , econometrics , risk analysis (engineering) , operations research , economics , mathematical economics , mathematics , artificial intelligence , engineering , philosophy , linguistics , electronic engineering , operating system , medicine
A model is developed for evaluating alternative control systems for an ongoing managerial process in terms of expected contribution per unit time under conditions of imperfect information. A variety of process failure distributions and economic characteristics are accepted by the model. An example illustrates the versatility of this approach for comparing alternative systems and for performing sensitivity analysis on process and control system parameters.