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| Author: | Glynn, P. W. Heidelberger, P. |
| Title: | Bias properties of budget constrained simulations. |
| Journal: | Operations Research
1990 : SEP-OCT, VOL. 38:5, p. 801-814 |
| Index terms: | SIMULATION BIAS ESTIMATION |
| Language: | eng |
| Abstract: | The bias characteristics of estimators produced from simulations are addressed. If there is a certain computer time allocated to the simulation, the number of replications conducted by this time is a renewal process. The simulation implications of a known exact expression for the expected value of a sample mean based on the above number of replications are explored. The bias in the sample mean based on this number of replication is insignificant. The exact expressions also lead to simple and totally unbiased estimators. An adjusted estimator is proposed to reduce the bias. |
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