Abstract
A new approximation introduced elsewhere is employed to approximate the error associated with the central limit approximation. In particular, the respective error obtained on approximating a linear combination of n independently distributed random variables (Sn) is examined, and it is shown that the unstandardized error is approximately independent of n. Two examples, for a discrete and for a continuous Sn, demonstrate that if a correction term, based on the above error approximation, is added to the traditional central limit approximation a remarkable improvement of accuracy ensues. Some implications of the new approximation are probed.
Original language | English |
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Pages (from-to) | 242-246 |
Number of pages | 5 |
Journal | IIE Transactions (Institute of Industrial Engineers) |
Volume | 20 |
Issue number | 3 |
DOIs | |
State | Published - 1 Jan 1988 |
Externally published | Yes |
ASJC Scopus subject areas
- Industrial and Manufacturing Engineering