Reference : Economic and Economical Statistical Design of Hotelling’s T2 Control Chart with Two-Stat...
Scientific journals : Article
Business & economic sciences : Quantitative methods in economics & management
Economic and Economical Statistical Design of Hotelling’s T2 Control Chart with Two-State Adaptive Sample Size
Faraz, Alireza mailto [Université de Liège - ULg > HEC-Ecole de gestion de l'ULg : UER > Statistique appliquée à la gestion et à l'économie >]
Saniga, Erwin mailto [University of Delaware, Newark, DE, USA > Department of Business Administration > > >]
kazemzadeh, R. B. mailto [Tarbiat Modares University, PO Box 14115-179, Tehran, Iran > aDepartment of Industrial Engineering, School of Engineering > > >]
Journal of Statistical Computation & Simulation
Taylor & Francis Ltd
1299 – 1316
Yes (verified by ORBi)
United Kingdom
[en] Hotelling's T2 control chart ; Adjusted average time to signal (AATS) ; variable sample size scheme ; economic statistical design ; Markov chain ; genetic algorithm
[en] The Hotelling’s T 2 control chart, a direct analogue of the univariate Shewhart ¯X chart, is perhaps the most commonly used tool in industry for simultaneous monitoring of several quality characteristics. Recent studies have shown that using variable sampling size (VSS) schemes results in charts with more statistical power when detecting small to moderate shifts in the process mean vector. In this paper, we build a cost model of a VSS T 2 control chart for the economic and economic statistical design using the general model of Lorenzen and Vance [The economic design of control charts: A unified approach, Technometrics 28 (1986), pp. 3–11].We optimize this model using a genetic algorithm approach.We also study the effects of the costs and operating parameters on theVSS T 2 parameters, and show, through an example, the advantage of economic design over statistical design forVSS T 2 charts, and measure the economic advantage of VSS sampling versus fixed sample size sampling.

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