Economic Design of A Modified Variable Sample Size and Sampling Interval Chart
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Shashibhushan B. Mahadik
Abstract
A comprehensive economic cost function is derived for a modified variable sample size and sampling interval 
(MVSSI) chart. As a variable sample size and sampling interval, a variable sample size, a variable sampling interval, and a static charts are particular cases of an MVSSI chart, the model is directly applicable to these charts, too. The cost function can be used to obtain optimal design parameters of these charts that minimize the process control related cost per hour for given process and cost parameters. It can also be used to compare the economic performances of these charts. A numerical study shows that the optimal adaptive charts differ in their performance only marginally from each other. However, both the statistical and economic performances of an optimal MVSSI chart are superior to that of the other adaptive charts. A sensitivity analysis for a particular example reveals that the optimal design obtained using the cost function is relatively insensitive to errors in specifying various process and cost parameters.
© Heldermann Verlag
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Articles in the same Issue
- Estimation on a GAR(1) Process by the EM Algorithm
- Point and Interval Estimation for the Lifetime Distribution of a k-Unit Parallel System Based on Progressively Type-II Censored Data
- A Note on the Distribution of Bousquet
- A Quality Index for Evaluating the Bank Capital Adequacy According to Basel I and II
- Reliability Test Plans for Series Systems in the Presence of Covariates
- Multivariate Information in Univariate Control Charts
- A Note on the Moments of Random Variables
- A Heuristic Approach for Constrained Redundancy Optimization in Multi-state Systems
- Reliability Computation of Moranda's Geometric Software Reliability Model
- Economic Design of A Modified Variable Sample Size and Sampling Interval Chart
- Gamma Frailty Regression Models in Mixture Distributions
- A Truncated Bivariate t Distribution
