JSM 2004 - Toronto

Abstract #301241

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Activity Number: 233
Type: Contributed
Date/Time: Tuesday, August 10, 2004 : 12:00 PM to 1:50 PM
Sponsor: Section on Quality and Productivity
Abstract - #301241
Title: Simulations: How Many Replications Do We Need?
Author(s): Jay R. Schaffer*+ and Myoung-Jin Kim
Companies: University of Northern Colorado and University of Northern Colorado
Address: McKee 530, Greeley, CO, 80639,
Keywords: simulations ; replications ; EWMA control chart
Abstract:

With the advent of high-speed computers, simulation studies can be easily created. Some of these simulation studies have used up to or even exceeded 10,000 replications. Generally, editors and reviewers will view such studies as having an adequate amount of data to answer the proposed questions. However, no current empirically based recommendations exist. Using an exponentially weighted moving average (EWMA) chart, this study investigates how much data is necessary to obtain an accurate solution to the question and determine the number of replications to use in a simulation. This paper is the first in a series of replication studies being investigated.

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Revised March 2004