![Sample our Economics, Finance,Business & Industry journals, sign in here to start your access, latest two full volumes FREE to you for 14 days]({"type":"image" , "src" : "/sda/5931/TOC-Subject-Sample-2021-Economics-Finance-Business-Industry.jpg"})
Abstract
A computer program is presented for the statistically constrained economic design of exponentially weighted moving average control charts for controlling process means. The program finds the optimal sample size, control limit width, sampling interval, and weighting factor by minimizing a total cost function proposed by Lorenzen and Vance subject to additional statistical constraints on average run length (ARL) or average time-to-signal (ATS). The ARL values are determined by solving systems of linear algebraic equations using Gaussian quadrature, following the integration-equation approach outlined by Crowder.
Additional information
Notes on contributors
James C.-C. Torng
Dr. Torng is an Associate Professor in Industrial Management. He is a Member of ASQC.
Jeffery K. Cochran
Dr. Cochran is an Associate Professor of Engineering.
Douglas C. Montgomery
Dr. Montgomery is a Professor of Engineering. He is a Fellow of ASQC.
Frederick P. Lawrence
Dr. Lawrence is a Postdoctoral Research Associate in the College of Engineering and Applied Sciences.
