A Bayesian Extended Exponentially Weighted Moving Average Control Chart

Das Souradeep () and Maiti Sudhansu S. ()
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Das Souradeep: Department of Statistics, Charuchandra College, Kolkata, India
Maiti Sudhansu S.: Department of Statistics, [30190]Visva-Bharati University, Santiniketan, India

Stochastics and Quality Control, 2024, vol. 39, issue 2, 69-77

Abstract: In this study, we propose a Bayesian Extended Exponentially Weighted Moving Average (BEEWMA) control chart. We have considered that the control chart statistic follows a normal distribution and the location parameter has an informative prior (normal). Average run length (ARL) has been used to evaluate the performance of the BEEWMA control chart. A simulation study has been performed to evaluate the new BEEWMA control chart’s performance for different smoothing constants values. The performance of the proposed control chart is also measured using a real-life application.

Keywords: Average Run Length; Bayesian Approach; Extended Exponentially Weighted Moving Average; Informative Prior; Statistical Process Control (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1515/eqc-2023-0021

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