Implementation of compound optimal design in progressive first‐failure censored data

Abstract

AbstractIn many research studies, multiple objectives need to be considered simultaneously to ensure an effective and efficient investigation. A compound optimal design provides a viable solution to this problem, allowing for the maximization of overall benefits through the integration of several factors. The paper addresses the application of compound optimal designs in the context of progressive first‐failure censoring, with a particular focus on the Generalized Exponential distribution with two parameters. The paper provides an illustrative example of compound designs by considering the cost function along with trace, variance, and determinant of inverse Fisher information. The best design is determined using a graphical solution technique that is both comprehensible and precise. Using a simple example, we demonstrate the advantage of compound optimal designs over constraint optimal designs. Furthermore, the paper examines real‐world data collection to demonstrate the practical utility of compound optimal designs.