Reference : Economic Statistical Design of a T2 Control Chart with Double Warning Lines
Scientific journals : Article
Business & economic sciences : Quantitative methods in economics & management
http://hdl.handle.net/2268/90033
Economic Statistical Design of a T2 Control Chart with Double Warning Lines
English
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 19716, U.S.A > Department of Business Administration, > > >]
Mar-2011
Quality and Reliability Engineering International
John Wiley & Sons, Inc. - Engineering
27
2
125-139
Yes (verified by ORBi)
International
0748-8017
[en] Hotelling's T2 control chart;adjusted average time to signal (AATS);variable sample size and sampling interval (VSSVSI) scheme;economic statistical design (ESD);Markov chain; genetic algorithm (GA)
[en] Recent studies have shown that enhancing the common T2 control chart by using variable sample sizes (VSS) and
variable sample intervals (VSI) sampling policies with a double warning line scheme (DWL) yields improvements in
shift detection times over either pure VSI or VSS schemes in detecting almost all shifts in the process mean. In this
paper, we look at this problem from an economical perspective, certainly at least as an important criterion as shift
detection time if one considers what occurs in the industry today. Our method is to first construct a cost model to
find the economic statistical design (ESD) of the DWL T2 control chart using the general model of Lorenzen and Vance
(Technometrics 1986; 28:3–11). Subsequently, we find the values of the chart parameters which minimize the cost
model using a genetic algorithm optimization method. Cost comparisons of Fixed ratio sampling, VSI, VSS, VSIVSS
with DWL, and multivariate exponentially weighted moving average (MEWMA) charts are made, which indicate the
economic efficacy of using either VSIVSS with DWL or MEWMA charts in practice if cost minimization is of interest to
the control chart user.
Researchers ; Professionals ; Students
http://hdl.handle.net/2268/90033
10.1002/qre.1095
http://onlinelibrary.wiley.com/doi/10.1002/qre.1095/abstract

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