GENERAL SOLUTION FOR THE ECONOMIC DESIGN OF X-CHARTS BASED ON DUNCAN'S MODEL.
WISCONSIN UNIV MADISON DEPT OF STATISTICS
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An exact and relatively simple general solution for the design of X-charts based on Duncans model is derived in this paper. The general solution consists of an implicit equation in design variables n sample size and k control limit factor and an explicit equation for h sampling interval. The use of this general solution not only yields the exact optimum but also provides valuable information so that the sensitivity of the optimum loss-cost L can be evaluated. Loss-cost contours are used to discuss the nature of the loss-cost surface and the effect of the design variables. The effect of two parameters, the delay factor e, and the average time for an assignable cause to occur 1lambda, on the optimum design is evaluated. Numerical examples are used for illustrations. Author
- Economics and Cost Analysis
- Statistics and Probability
- Operations Research