Effects of misspecification on the economic-statistical design of the Coefficient Of Variation chart

Wai Chung Yeong, Michael Boon Chong Khoo, Sok Li Lim, Wei Lin Teoh, Peh Sang Ng

Research output: Contribution to journalArticle

Abstract

The Coefficient of Variation (CV) chart monitors changes in the ratio of the standard deviation against the mean, instead of monitoring changes in the mean and/or standard deviation. The economic-statistical design of the CV chart allows practitioners to select optimal chart parameters which minimize the cost subject to constraints in the run length. However, a large number of parameters need to be estimated. This study looks at the effects when these parameters are incorrectly estimated. It was found that a minimal increase in cost is shown when the parameters are not estimated accurately, except for the incorrect specification of the shift size and the out-of-control quality cost which shows a slightly higher increase in cost. Thus, only a rough approximation is needed for most of the parameters.

Original languageEnglish
Pages (from-to)1655-1659
Number of pages5
JournalJournal of Engineering and Applied Sciences
Volume11
Issue number7
DOIs
Publication statusPublished - 2016

Keywords

  • Coefficient of variation chart
  • Economic-statistical design
  • Incorrect specification
  • Increase in cost
  • Rough approximation

ASJC Scopus subject areas

  • Engineering(all)

Fingerprint Dive into the research topics of 'Effects of misspecification on the economic-statistical design of the Coefficient Of Variation chart'. Together they form a unique fingerprint.

  • Cite this