Reference : ECONOMICALLY DESIGNED HOTELLING’S T2 CONTROL CHART USING VSICL SCHEME

	Document type :	Scientific journals : Article
	Discipline(s) :	Business & economic sciences : Quantitative methods in economics & management
	To cite this reference:	http://hdl.handle.net/2268/90046

Title :	ECONOMICALLY DESIGNED HOTELLING’S T2 CONTROL CHART USING VSICL SCHEME
Language :	English
Author, co-author :	torabian, Mohsen [ > > ]
	Moghadam, M. B. [ > > ]
	Faraz, Alireza [Université de Liège - ULg > HEC-Ecole de gestion de l'ULg : UER > Statistique appliquée à la gestion et à l'économie >]
Publication date :	2010
Journal title :	Arabian Journal for Science & Engineering
Publisher :	King Fahd University of Petroleum and Minerals
Volume :	35
Issue/season :	2
Pages :	251–263
Audience :	International
ISSN :	0377-9211
City :	Chichester
Country :	United Kingdom
Abstract :	[en] The Hotelling’s T2 control chart, is the most widely used multivariate procedure for two or more related quality characteristics, but it’s power lacks the desired performance in detecting small to moderate shifts. Recently, the variable sampling intervals (VSI) control scheme in which the length of successive sampling intervals is determined upon the preceding T2 values has been proved to have a very good performance on detecting small to moderate shifts when it is compared to the original T2 control chart . Moreover, it has been shown that the VSI scheme is more economical than the classical one. This paper studies the economic consequences of a new control scheme named variable sampling intervals and control limits (VSICL) in that the sampling interval h and control limit k vary between minimum and maximum values while keeping the sample size fixed over time. We apply the cost model proposed by Costa and Rahim [8]. Furthermore, we assume that the length of time that the process remains in control is exponentially distributed which allows us to apply the Markov chain approach for developing the cost model. We apply genetic algorithm to determine the optimal values of model parameters by minimizing the cost function. Finally, both VSI and VSICL T2 control charts are compared with respect to the expected cost per unit time.
Target :	Researchers ; Professionals ; Students
Permalink :	http://hdl.handle.net/2268/90046

	File(s) associated to this reference
	Fulltext file(s): File Commentary Version Size Access Restricted access Torabian et al. 2010.pdf Publisher postprint 29.51 kB Request copy

All documents in ORBi are protected by a user license.

 

© ULg Library Network |  Feedback |  ORBi legal notices

Dspace v1.5