New approach for production costing using a multi-parameter distribution
Conference Paper
Overview
Additional Document Info
View All
Overview
abstract
This paper proposes a new approach for the evaluation of the probabilistic production costing by using a multi-parameter distribution which is a weighted sum of gamma distributions. An explicit expression of the distribution of ELDC is derived in this paper using this proposed distribution whose parameters can be easily obtained from the unit parameters. This method is shown to be as efficient Gram-Charlier but more accurate.