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A Generalized Loss Function for Process Optimization
Author(s) -
Stevens David P.,
Baker R. C.
Publication year - 1994
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.1540-5915.1994.tb00515.x
Subject(s) - generalization , function (biology) , product (mathematics) , transmission loss , mathematical optimization , computer science , loss function , process (computing) , reliability engineering , mathematics , engineering , telecommunications , mathematical analysis , biochemistry , chemistry , geometry , evolutionary biology , gene , biology , phenotype , operating system
The use of loss functions for measuring the undesirability associated with failure to achieve target values for manufacturing product characteristics is widespread in industry. This study presents a generalization of one of the most commonly used loss functions and compares the two functions based on five theoretical criteria. A simulation involving multiple probability distributions for a single product characteristic is used to compare the performance of the loss functions. An example from the manufacture of helicopter transmission gears is used to empirically demonstrate the superiority of the generalized loss function over the conventional loss function.