Abstract
The optimal choice of design parameters has a huge impact on a control chart's performance. The economic-statistical design balances the economic and statistical performance of a chart, by selecting design parameters which minimize the cost subjected to statistical constraints. To compute the quality loss as a result of deviations from the target value, quality loss functions are often used. However, practitioners may incorrectly choose the wrong type of loss function to describe the quality loss. This paper studies the effects when the type of loss function is misspecified. This study is done on the synthetic X chart. We focus our attention on the linear, quadratic and exponential loss functions. © 2015 IEEE.
Original language | English |
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Title of host publication | 2015 International Conference on Computer, Communications, and Control Technology |
Publisher | IEEE |
Pages | 77-81 |
Number of pages | 5 |
ISBN (Electronic) | 978-1-4799-7952-3 |
DOIs | |
Publication status | Published - 27 Aug 2015 |
Event | 2015 International Conference on Computer, Communications, and Control Technology - Kuching, Malaysia Duration: 21 Apr 2015 → 23 Apr 2015 |
Conference
Conference | 2015 International Conference on Computer, Communications, and Control Technology |
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Abbreviated title | I4CT |
Country/Territory | Malaysia |
City | Kuching |
Period | 21/04/15 → 23/04/15 |
Keywords
- economic-statistical design
- misspecification
- quality loss function
- synthetic chart