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Optimal Decision Graphs for Multivariate Quality Control

Author

Listed:
  • Jose-Luis Guerrero
  • Shreevardhan S. Lele

    (Georgetown University School of Business)

Abstract

The optimal design of a chart is the selection of chart parameters that are the "best" in some pre-defined sense for a given operating environment and a given control chart. The central idea behind this methodology is that a continuous, long term operation of a control chart can be modeled as an ergodic Markov process. For a linear cost model, the stationary distribution of the Markov process completely characterizes the economic performance of the control chart. We assume that our data is multivariate normal distributed and develop optimal control graphs for the bivariate control chart, and study its properties.

Suggested Citation

  • Jose-Luis Guerrero & Shreevardhan S. Lele, "undated". "Optimal Decision Graphs for Multivariate Quality Control," Working Papers _004, Georgetown School of Business.
    • Handle: RePEc:wop:gesbwp:_004
    as

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