Abstract
This analysis builds upon two articles published on the development of optimal parameters for economically designed, statistically constrained, Exponentially Weighted Moving Average control charts by Montgomery et al. (1995) and Torng, et al. (1995) (Vol. 27, Issue 3 of the Journal of Quality and Technology). It shows that under certain conditions, that can be easily incorporated in the parent algorithm, the total cost function for the aforementioned control charts is strictly convex in the sample size. This fact can be usefully employed to forestall a complete enumerative search for the optimal parameters, and thus save on the search time. Using the modified algorithm on fifteen candidate problems resulted in about 50% savings in the average search time. The result can be easily extended to accommodate the statistical constraints on Average Run Lengths and Average Time to Signal.
| Original language | English (US) |
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| Pages | 1602 |
| Number of pages | 1 |
| State | Published - 1998 |
| Externally published | Yes |
| Event | Proceedings of the 1997 Annual Meeting of the Decision Sciences Institute. Part 1 (of 3) - San Diego, CA, USA Duration: Nov 22 1997 → Nov 25 1997 |
Other
| Other | Proceedings of the 1997 Annual Meeting of the Decision Sciences Institute. Part 1 (of 3) |
|---|---|
| City | San Diego, CA, USA |
| Period | 11/22/97 → 11/25/97 |
ASJC Scopus subject areas
- Management Information Systems
- Hardware and Architecture