EWMA chart with variable sample size and sampling interval for monitoring Pareto data with estimated parameters

Xiao Bin Cheng, Fu Kwun Wang*

*Corresponding author for this work

Research output: Contribution to journalJournal Article peer-review

3 Scopus citations

Abstract

The Pareto distribution has been widely used to model data in numerous areas including actuarial science, climatology, economics, finance, and reliability. The exponential weighted moving average (EWMA) chart with variable sample size and sampling interval (VSSI) is quicker than EWMA chart, EWMA chart with variable sample size (VSS), and EWMA chart with variable sampling interval (VSI) in detecting the mean shifts of a normal process. In this study, we present an EWMA-VSSI chart to monitor the Pareto data with estimated parameters. The average time to signal (ATS) is computed by using the Markov chain approach. The results indicate that the proposed chart performs better than the other EWMA charts with fixed sample size, VSS, and VSI in terms of ATS. The design parameters of the proposed control charts are given in order to expedite the use of the chart by practitioners. Two examples are used to illustrate the application of the proposed control charts.

Original languageEnglish
Pages (from-to)1775-1784
Number of pages10
JournalQuality and Reliability Engineering International
Volume34
Issue number8
DOIs
StatePublished - 12 2018
Externally publishedYes

Bibliographical note

Publisher Copyright:
© 2018 John Wiley & Sons, Ltd.

Keywords

  • EWMA chart
  • Markov chain approach
  • Pareto distribution
  • variable sample size and sampling interval

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