A variable sampling plan based on quadratic random decision function using classical and Bayesian estimates under type II hybrid censored samples

Abstract

This article endeavors to develop a single variable sampling plan when the lifetime of product follows the exponential distribution. The sampling plan has been developed by assuming that the life test is under type II hybrid censoring. Based on a two-sided decision function with a quadratic random doubt zone and a suitable loss function, an explicit expression for the Bayes risk has been determined using classical and Bayesian estimate with the Linex loss function. In order to obtain the optimal sampling plan, a simple algorithm based on the grid search method was provided. Finally, a numerical simulation with extensive tables and a comparison of performance have been provided to illustrate the proposed model.