Hotelling's T2 control chart, economic-statistical design (ESD), Markov chain, genetic algorithm (GA), variable sampling size and control limits (VSSC) scheme
Abstract :
[en] Recent studies have shown that using variable sampling size and control limits (VSSC) schemes result in charts with more statistical power than variable sampling size (VSS) when detecting small to moderate shifts in the process mean vector. This paper presents an economic-statistical design (ESD) of the VSSC T2 control chart using the general model of Lorenzen and Vance [22]. The genetic algorithm approach is then employed to search for the optimal values of the six test parameters of the chart. We then compare the expected cost per unit of time of the optimally designed VSSC chart with optimally designed VSS and FRS (fixed ratio sampling) T2 charts as well as MEWMA charts.
Disciplines :
Quantitative methods in economics & management
Author, co-author :
Seif, A.; Azad University, Hamadan, Iran > Department of Statistics
Faraz, Alireza ; Université de Liège - ULiège > HEC-Ecole de gestion : UER > Statistique appliquée à la gestion et à l'économie
Heuchenne, Cédric ; Université de Liège - ULiège > HEC-Ecole de gestion : UER > Statistique appliquée à la gestion et à l'économie
Saniga, E.; University of Delaware, Newark, DE 19716, USA > Department of Business Administration
Moghadam, M. B.; Allameh Tabatabaee University > Department of Statistics
Language :
English
Title :
A modified economic-statistical design of the T2 control chart with variable sample sizes and control limits
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