Abstract
Markov chain Monte Carlo (MCMC) techniques have been extensively developed and are accepted for solving various real‐world problems. However, process capabilities are rarely analyzed with the means of MCMC. This study integrates the MCMC technique into Bayesian models for assessing the well‐known quality loss index Cpm for gamma and Weibull process distributions. After the MCMC iterations are completed, the quality manager can make reliable decisions via the proposed credible intervals. Furthermore, this study provides performance comparisons of the estimators of Cpm obtained by the MCMC and bootstrap techniques. Simulations show that the MCMC technique performs better than the bootstrap technique in most of the cases that were considered. Copyright © 2016 John Wiley & Sons, Ltd.
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