Reference : Economic Statistical Design of T2 Control Chart with Variable Sampling Intervals

	Document type :	E-prints/Working papers : First made available on ORBi
	Discipline(s) :	Business & economic sciences : Quantitative methods in economics & management
	To cite this reference:	http://hdl.handle.net/2268/90711

Title :	Economic Statistical Design of T2 Control Chart with Variable Sampling Intervals
Language :	English
Author, co-author :	Faraz, Alireza [Université de Liège - ULg > HEC-Ecole de gestion de l'ULg : UER > Statistique appliquée à la gestion et à l'économie >]
	Saniga, Erwin [ > > ]
	Heuchenne, Cédric [Université de Liège - ULg > HEC-Ecole de gestion de l'ULg : UER > Statistique appliquée à la gestion et à l'économie >]
Publication date :	Undated
Abstract :	[en] The usual procedure when employing a T2 control chart for process monitoring is to take samples of fixed size n0 every h0 hours from the process. Results are plotted and signals are investigated. Recent studies have shown that using variable sampling intervals (VSI) rather than fixed sampling intervals (FRS) can help detect process shifts more quickly. In this paper, we build a model of a process controlled by a VSI T2 control chart so that users can determine economic statistical designs which are preferred to economic or statistical designs alone. This model allows us to explore the cost savings implications of VSI sampling. The cost model proposed by Lorenzen and Vance [13] is employed and we find optimal (minimum) costs using a genetic algorithm (GA) approach.
Permalink :	http://hdl.handle.net/2268/90711

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	Fulltext file(s): File Commentary Version Size Access Restricted access ESD_T2-VSI.pdf Author preprint 14.6 kB Request copy

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