## Abstract

In this paper, we discuss the concept of the expected opportunity cost of a potentially incorrect selection as a measure of selection quality on a new selection procedure that is used to selecting the top m systems for large scale problems. This procedure is used the ordinal optimiza- tion method to reduce the size of the search space, and then it is used the idea of computing budget allocation OCBA-m to identify the top m systems from the survivors systems that we got it by ordinal opti- mization method. This procedure is tested on two numerical examples, buffer allocation problem BAP and M/M/1 queuing system. Clearly from the numerical results this procedure selects the optimal subset of systems with the minimum expected opportunity cost of a potentially incorrect selection.

Original language | English |
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Pages (from-to) | 6507-6519 |

Number of pages | 13 |

Journal | Applied Mathematical Sciences |

Volume | 9 |

Issue number | 131 |

DOIs | |

Publication status | Published - 2015 |

## Keywords

- Expected opportunity cost
- Optimal computing budget allocation
- Ordinal optimization
- Simulation optimization

## ASJC Scopus subject areas

- Applied Mathematics