Characteristics of Economically Designed CUSUM and \bar{X} Control Charts

In this paper we investigate the characteristics of economic control chart
designs for both Shewhart (¯X ) and CUSUM control charts. Authors in the past have
made some suggestions regarding the design of these charts, where design is defined
as finding the values of sample size, intersample interval and control limit (Shewhart
chart) or control parameters (k and h) for the CUSUM chart. Here, we run a large
number of experiments consisting of many configurations of the parameters and
describe and model the results in terms of the actual economic designs.