Abstract
For monitoring the stability of a process, various control charts based on exponentially weighted moving average (EWMA) statistics have been proposed in the literature. We study the economic design of EWMA-based mean and dispersion charts when a linear, quadratic, or exponential loss function is used for computing the costs arising from poor quality. The chart parameters (sample size, sampling interval, control limits and smoothing constant) minimizing the overall cost of the control scheme are determined via computational methods. Using numerical examples, we compare the performances of the EWMA charts with Shewhart X ¯ and S charts, and investigate the sensitivity of the chart parameters to changes in process parameters and loss functions. Numerical results imply that rather than sample size or control limits, the users need to adjust the sampling interval in response to changes in the cost of poor quality.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
