Selection Procedures: A New Statistical Methodology and Its Applications for Marketing Research

Traditional methods of analysis do not provide the researcher with means for selecting the “best” among several alternatives while having control over the probability of being correct. The authors present the indifference zone approach and the subset-selection approach to selection problems. The findings of several recent studies are used as illustrative examples.

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An overview on selection methods

Suid-Afrikaanse Tydskrif vir Natuurwetenskap en Tegnologie ◽

10.4102/satnt.v1i2.1148 ◽

1982 ◽

Vol 1 (2) ◽

pp. 91-96 ◽

Cited By ~ 1

Author(s):

J. W. H. Swanepoel

Keyword(s):

Major Part ◽

Ranking And Selection ◽

Regression Analyses ◽

Selection Methods ◽

Selection Procedures ◽

Indifference Zone ◽

Selection Problems ◽

Fixed Sample ◽

Sequential Procedures ◽

Ranking And Selection Procedures

In many studies the experimenter has under consideration several (two or more) alternatives, and is studying them in order to determine which is the best (with regard to certain specified criteria of “goodness”). Such an experimenter does not wish basically to test hypotheses, or construct confidence intervals, or perform regression analyses (though these may be appropriate parts of his analysis); he does wish to select the best of several alternatives, and the major part of his analysis should therefore be directed towards this goal. It is precisely for this problem that ranking and selection procedures were developed. This paper presents an overview of some recent work in this field, with emphasis on aspects important to experimenters confronted with selection problems. Fixed sample size and sequential procedures for both the indifference zone and subset formulations of the selection problem are discussed.

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A Restricted Subset Selection Approach to Ranking and Selection Problems

The Annals of Statistics ◽

10.1214/aos/1176343060 ◽

1975 ◽

Vol 3 (2) ◽

pp. 334-349 ◽

Cited By ~ 31

Author(s):

Thomas J. Santner

Keyword(s):

Subset Selection ◽

Ranking And Selection ◽

Selection Problems ◽

Selection Approach

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Fixed-Confidence, Fixed-Tolerance Guarantees for Ranking-and-Selection Procedures

ACM Transactions on Modeling and Computer Simulation ◽

10.1145/3432754 ◽

2021 ◽

Vol 31 (2) ◽

pp. 1-33

Author(s):

David J. Eckman ◽

Shane G. Henderson

Keyword(s):

Sufficient Conditions ◽

Subset Selection ◽

Ranking And Selection ◽

Correct Selection ◽

Selection Procedures ◽

Indifference Zone ◽

Second Best ◽

Probability Of Correct Selection ◽

Statistical Ranking ◽

Ranking And Selection Procedures

Ever since the conception of the statistical ranking-and-selection (R8S) problem, a predominant approach has been the indifference-zone (IZ) formulation. Under the IZ formulation, R8S procedures are designed to provide a guarantee on the probability of correct selection (PCS) whenever the performance of the best system exceeds that of the second-best system by a specified amount. We discuss the shortcomings of this guarantee and argue that providing a guarantee on the probability of good selection (PGS)—selecting a system whose performance is within a specified tolerance of the best—is a more justifiable goal. Unfortunately, this form of fixed-confidence, fixed-tolerance guarantee has received far less attention within the simulation community. We present an overview of the PGS guarantee with the aim of reorienting the simulation community toward this goal. We examine numerous techniques for proving the PGS guarantee, including sufficient conditions under which selection and subset-selection procedures that deliver the IZ-inspired PCS guarantee also deliver the PGS guarantee.

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