Measuring service quality by linear indicators

This paper presents a methodology for building linear indicators of the quality of a service. A regression model is presented in which customers evaluate the overall service quality and a set of dimensions or attributes that determine this service quality. The model assumes that overall service quality is determined by a linear combination of attribute evaluations with some unknown weights. As different customers may have different weights, the estimation of the parameters of the distribution of weights in the population is carried out by generalized constrained least squares. The model is applied to the measurement of the quality of the education provided by an university and the quality of the Spanish railroad system

Načrtovanje in planiranje z metodo simulacije

The use of simulation as a tool to design complex stochastic systems is often inhibited by cost. Extensive computer processing is needed to find a design parameter value given a desired target for the performance measure of a given system. The designer simulates the process numerically and obtains an approximation for that same output. The goal is to match the numerical and experimental results as closely as possible by varying the values of input parameters in the numerical simulation. The most obvious difficulty in solving the design problem is that one cannot simply calculate a straightforward solution and be done. Since the output has to be matched by varying the input, an iterative method of solution is implied. This paper proposes a “stochastic approximation” algorithm to estimate the necessary controllable input parameters within a desired accuracy given a target value for the performance function. The proposed solution algorithm is based on Newton’s methods using a single-run simulation approach to estimate the needed derivative. The proposed approach may be viewed as an optimization scheme, where a loss function must be minimized. The solution algorithm properties and the validity of the estimates are examined by applying it to some reliability and queueing systems with known analytical solutions.Uporaba simulacije kot orodja za načrtovanje kompleksnih stohastičnih sistemov je pogosto časovno zahtevna naloga. Potereben je izdaten računalniški čas da se najde vrednost vhodnih parametrov ki ustrezajo željenim performansam sistema. Načrtovalec simulira proces numerično za izbrane vhodne parametre da dobije oceno želene vrednosti izhoda. Cilj je da dobimo kar se da slične vrednosti experimentalnih in simulacijskih rezultatov z variranjem vhodnih parametrov simulacijskega modela. Pproblem je da ne obstaja enostaven način računanja da direkto dobimo zahtevanno rešitev problema. Ker izhod (rešitev) mora odgovarati enoj od možnih vrednosti vhodnih parametrov metoda reševanja je nujno iterativna kar zahteva veliko računalniškega časa. V tem članku predlagava postopek “stohastičnega približka” za oceno potrebnih controlabinih vhodnih parametrov za določitev željene vrednosti sistema v mejah predpisane zanesljivosti. Predlagani algoritam temelji na Newtonovi metodi, kjer spomočjo (enega) simulaciijskega teka ocenimo prvi odvod potreban za optimizacijo kriterijske funkcije. Predlagani postopek lahko razumemo kot optimizacijsko shemo, kjer funkcijo izgube je treba minimizirati. Predlagani postopek je preizkušen in ovrednoten na nekaj primerih zanesljivosti in sistemov strežbe z znanimi analitičnimi rešitvami

Representing Employee Requirements in Labor Tour Scheduling

In this paper, we use the methodology of simulation to evaluate six approaches for handling employee requirements In an LP-based labour tour scheduling heuristic. We model employee requirements both as minimum acceptable staffing levels-where understaffing is unacceptable-and as target staffing levels-where both under- and overstaffing are acceptable. For each representation of employee requirements, we evaluate forms of the heuristic that use problem-specific and problem-independent information on the costs of employee surpluses and, if appropriate, employee shortages. Over an extensive test data set, the target-staffing approach using problem-specific cost Information outperformed all other procedures. Specifically, it generated schedules costing less than 87% of those developed using the approach most commonly found in the literature. Its schedules were also almost 5% cheaper than those of its closest competitor. We discuss the managerial and research implications of the findings and provide suggestions for future research

Efficient Computation of Probabilities of Events Described by Order Statistics and Applications to Queue Inference

This paper derives recursive algorithms for efficiently computing event probabilities related to order statistics and applies the results in a queue inferencing setting. Consider a set of N i.i.d. random variables in [0, 1]. When the experimental values of the random variables are arranged in ascending order from smallest to largest, one has the order statistics of the set of random variables. Both a forward and a backward recursive O(N3 ) algorithm are developed for computing the probability that the order statistics vector lies in a given N-rectangle. The new algorithms have applicability in inferring the statistical behavior of Poisson arrival queues, given only the start and stop times of service of all N customers served in a period of continuous congestion. The queue inference results extend the theory of the "Queue Inference Engine" (QIE), originally developed by Larson in 1990 [8]. The methodology is extended to a third O(N 3 ) algorithm, employing both forward and backward recursion, that computes the conditional probability that a random customer of the N served waited in queue less than r minutes, given the observed customer departure times and assuming first come, first served service. To our knowledge, this result is the first O(N3 ) exact algorithm for computing points on the in-queue waiting time distribution function,conditioned on the start and stop time data. The paper concludes with an extension to the computation of certain correlations of in-queue waiting times. Illustrative computational results are included throughout

Option Investor Rationality Revisited

Do option investors rationally exercise their options? Numerous studies report evidence of irrational behavior. In this paper, we pay careful attention to intraday option quotes and reach the opposite conclusion. An exercise boundary violation (EBV) occurs when the best bid price for an American option is below the option’s intrinsic value. Far from being unusual, we show that EBVs occur very frequently. Under these conditions, the rational response of an investor liquidating an option is to exercise the option rather than sell it. Empirically, we find that the likelihood of early exercise is strongly influenced by the existence and duration of EBVs. Not only do these results reverse standard theory on American option valuation and optimal exercise strategy, but they also suggest that the ability to avoid selling at an EBV price creates an additional source of value for American options that is unrelated, and in addition to, dividend payments. This additional value may help explain why American options appear overpriced relative to European options

Online consumer behaviour within the broadband industry.

Thesis (MBA)-University of KwaZulu-Natal, Westville, 2006.The internet has rapidly become a part of an every day experience for the consumer. The rapid expansion of information and communication technologies in daily business activities is the most important long-term trend in the business world. Quality is related to customer satisfaction, retention and loyalty in both the products and service settings and thus quality is expected to be a determinant of online retailer success as well. This study focused on the critical components of the business environment with regard to organizations retention of their customers and maintenance of their competitive advantage within an online environment. The main aim of this study was to determine the effects that customer satisfaction and service quality have on customer behaviour within an online environment. The population consisted of broadband users in the UK and the research instrument used was a questionnaire that was administered to a sample of four hundred consumers at four locations in the city centre of Victoria, London. The findings of this study are similar to previous studies conducted by researchers of service quality. The most important elements that surfaced were what customers require from an online shopping environment viz. reliability and efficiency of the website, correct product descriptions and advertising, accurate delivery times and correct orders. Best practices and recommendations with regard to organizations using past studies and models available as well as the use of strategic instruments to enhancement the organizations viability. It was recommended that organizational surveys be conducted as well as recommendations for empowering and equipping members of staff as well keeping service promises. Research is needed in the examination of inter-relationships among technology readiness, electronic service quality and electronic shopping behaviour of customers as well as research into actions on the Web site that most affect the identified key drivers of revisits or repurchase

Valgardson Housing Systems, Inc. v. Utah State Tax Commission : Brief of Respondent

APPEAL FROM THE DECISION OF THE UTAH STATE TAX COMMISSION ISSUED JUNE 3, 199

Valgardson Housing Systems, Inc. v. Utah State Tax Commission : Brief of Respondent

APPEAL FROM THE DECISION OF THE UTAH STATE TAX COMMISSION ISSUED JUNE 3, 199

Automation considerations for a manufacturing system

This thesis examines the present manufacturing system of Apollo Valve Company, a solenoid control valves manufacturing. After analyzing the present system, the automation considerations and proposed new system were recommended. Chapter 1 presenti the background material of automation and manufacturing system. The development of the automated factory is also included. The plant layout, organization, and departments functions of the present system are briefly described in the Chapter 2. Analysis of the present manufacturing system by the production volume, by plant layout, and by the manufacturing operations, is discussed in Chapter 3. Proposed automation considerations and improvements, such as group technology (GT), computer-aided process planning (CAPP), computer-aided manufacturing (CAM), automatic assembly and testing, packing, and flexible manufacturing system (FMS), are presented in the Chapter 4. The last chapter, the conclusions are discussed and the new manufacturing system is recommended

The Appointment-Book Problem and Commitment, With Applications to Refereeing and Medicine

Markets that involve customers waiting for services or goods in queues whose length they cannot observe are studied. In these markets suppliers truncate queues that become so long that they jeopardize the supplier's future relations with the customer. The length of the queue and the probability of truncation increase with the quality of the supplier, and this implicitly defines the price that customers are willing to pay for quality. Queue-jumping or nontruncation can occur if monetary payments are made or if nonmonetary specific commitments exist between a customer and a supplier. The predictions apply to any activity where the queue is unobservable and transactions costs make contracts or spot pricing uneconomic. The theory is examined on a random sample of refereeing requests by seven economics journals. Quality, measured by experience and citations to the referee's work, lengthens the queue and increases the probability of truncation. Monetary bribes affect queue discipline in the expected way; and specific commitments, measured by past publication in the journal and location at the editor's institution, greatly affect the truncation rate, but have no impact on the rate of servicing the queue. The implications for truncation are also examined on a set of data describing doctors' willingness to accept new patients, with much the same results as in the sample of referees.