An application of a Bayesian approach to the combination of measurements of different accuracies

This paper describes a decision making model analogous to the Expert Opinions approach. The model is applied to a design parameter controlling the yield of a chemical process. This parameter is measured by different physical methods, each having its own accuracy and uncertainty. The usefulness of the model is demonstrated through a generalized chemical reaction in which the design parameter is the optimal time for adding the catalyst during the reaction. Thus, by integrating technological and probabilistic considerations, the model becomes an effective decision making tool for efficient production management.