This is the program for the 2010 Joint Statistical Meetings in Vancouver, British Columbia.
Abstract Details
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Activity Number:
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534
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Type:
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Contributed
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Date/Time:
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Wednesday, August 4, 2010 : 10:30 AM to 12:20 PM
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Sponsor:
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Section on Statistical Computing
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| Abstract - #307672 |
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Title:
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Number of Replications Required in Simulation Studies: A Synthesis of Four Studies
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Author(s):
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Daniel Mundfrom*+ and Jay R. Schaffer and Myoung-Jin Kim and Dale Shaw and Ampai Thongteeraparp and Chana Preecha and Pornsin Supawan
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Companies:
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New Mexico State University and University of Northern Colorado and Illinois State University and University of Northern Colorado and Kasetsart University and Thepsatri Rajabhat University and Rajabhat Rajanagarindra University
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Address:
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Department of Economics, MSC 3CQ, Las Cruces, NM, 88003-8001,
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Keywords:
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simulations ;
replications ;
Monte Carlo
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Abstract:
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Monte Carlo simulations have been used extensively in studying the performance of various statistical tests and control charts. Researchers have used a wide range of numbers of replications in their studies, but rarely are justifications provided for the number of replications used. Currently, there are no empirically based recommendations regarding the required number of replications to ensure accurate results. Through four dissertations, 22 studies from various fields were replicated to provide empirically based recommendations for future simulation studies. In many instances, the number of replications used in the original studies was more that what was needed.
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