Open AccessA STOCHASTIC MODEL FOR ESTIMATION OF EXPECTED TIME TO RECRUITMENT WHEN THE THRESHOLD HAS GENERALIZED EXPONENTIATED GAMMA DISTRIBUTION
Author(s) -
M. Manoharan,
A. Rajarathinam
Publication year - 2021
Publication title -
ymer
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.103
H-Index - 5
ISSN - 0044-0477
DOI - 10.37896/ymer20.11/3
Subject(s) - gamma distribution , distribution (mathematics) , production (economics) , generalized gamma distribution , estimation , mathematics , statistics , random variable , econometrics , economics , mathematical analysis , management , macroeconomics
In any organization a number of factors are required to generate production activities and the manpower is the most vital factor. The manpower requirements may increase in course of time due to increase in production activities or due to depletion of manpower at random time points. Hence recruitment is to be made whenever the total demands for manpower crosses the so called threshold level. In this paper an estimate of the expected time to recruitment is derived under the assumption that the threshold level is a random variable which follows the Generalized Exponentiated Gamma distribution. The variances also found out. The results are substantiated with numerical examples