Monitoring the coefficient of variation using a variable parameters chart

Yeong, Wai Chung and Lim, Sok Li and Khoo, Michael Boon Chong and Castagliola, Philippe (2018) Monitoring the coefficient of variation using a variable parameters chart. Quality Engineering, 30 (2). pp. 212-235. ISSN 0898-2112, DOI

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This article is the first of its kind which proposes a Variable Parameters (VP) chart to monitor the coefficient of variation (CV). Formulae for various performance measures and the algorithms to optimize these performance measures are proposed. The VP CV chart consistently outperforms the five alternative CV charts in the literature, for all shift sizes. Compared to the Exponentially Weighted Moving Average (EWMA) CV2 chart, the VP CV chart outperforms it for moderate and large shift sizes, while for small shift sizes, the EWMA CV2 chart outperforms the VP CV chart. Subsequently, the VP CV chart is implemented on an industrial example.

Item Type: Article
Uncontrolled Keywords: adaptive charts; average time to signal; coefficient of variation; expected average time to signal; variable parameters
Subjects: H Social Sciences > HF Commerce
Q Science > Q Science (General)
Q Science > QA Mathematics
Divisions: Faculty of Business and Economics
Faculty of Science
Depositing User: Ms. Juhaida Abd Rahim
Date Deposited: 12 Feb 2019 08:39
Last Modified: 12 Feb 2019 08:39

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