Take a sneak peek at the new NIST.gov and let us know what you think!
(Please note: some content may not be complete on the beta site.).

View the beta site
NIST logo

Publication Citation: Economics of Measurement Uncertainty and Tolerances

NIST Authors in Bold

Author(s): Steven D. Phillips; J.M. Baldwin; William T. Estler;
Title: Economics of Measurement Uncertainty and Tolerances
Published: July 01, 2009
Abstract: Productivity is considered by considering Cobb-Douglas production function and focusing on total factor productivity (TFP). We argue that developed economies like the United States need to develop TFP by utilizing advances in computation power and insights into modeling the manufacturing process. An example of optimizing the inspection gauging limits by selecting the economically optimal decision rule is presented and further generalizations of optimizing the entire metrology system are discussed.
Proceedings: Proceedings of the ASPE 2009 Summer Topical Meeting: The Economies of Precision Engineering
Pages: pp. 3 - 6
Location: East Peoria, IL
Dates: July 7-8, 2009
Keywords: precision engineering,productivity,decision rule,guard band,simulation,risk-analysis
Research Areas: Dimensional Metrology, Manufacturing, Measurements