Abstract
ABSTRACTIn this article, a method for economic and economic-statistical design of multivariate (T-squared) control charts under a two-parameter generalized exponential shock model and uniform sampling scheme which is based on primary work of Banerjee and Rahim (1988) and Yang and Rahim (2006) was developed. A sensitivity analysis was conducted to study the effects of process, and cost parameters on design parameters and designs were compared. Comparison showed that the difference between sampling interval and minimum cost in these two designs is negligible and economic-statistical design provides smaller average run length (ARL) under control.
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