DESIGN OF CUMULATIVE SUM CONTROL CHARTS BASED ON MINIMUM COST CRITERION.
WISCONSIN UNIV MADISON DEPT OF STATISTICS
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A cost model is derived for the design of cumulative sum control charts using the Average Run Length to calculate the average time of out-of-control operation. The minimum cost design is obtained by employing the pattern search technique. The nature of the loss-cost surface and the effect of the design variables on the loss-cost surface are investigated. The effects of the shift parameter delta, the average time for an assignable cause to occur 1lambda and the cost factors b and c on the optimum designs and the loss-cost surfaces are also evaluated by numerical examples. Author
- Numerical Mathematics