There is an innate human tendency, one might call it the “league table mentality,” to construct rankings. Schools, hospitals, sports teams, movies, and myriad other objects are ranked even though their inherent multi‐dimensionality would suggest that—at best—only partial orderings were possible. We consider a large class of elementary ranking problems in which we observe noisy, scalar measureme...

In this paper, we briefly review the development of ranking-and-selection (R&S) in past 70 years, especially theoretical achievements and practical applications last 20 years. Different from frequentist Bayesian classifications adopted by Kim Nelson (2006b) Chick (2006) their articles, categorize existing R&S procedures into fixed-precision fixed-budget procedures, as Hunter (2017). We show tha...

In today’s highly competitive manufacturing environment, an effective supplier selection process is very important for the success of any business organization. Selection of the best supplier is always a difficult task for the purchasing manager. Suppliers have varied strengths and weaknesses which require careful assessment by the purchasing manager before selecting and ranking them. Any suppl...