Optimal Decision Graphs for Multivariate Quality Control

Jose-Luis Guerrero and Shreevardhan S. Lele ()
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Shreevardhan S. Lele: Georgetown University School of Business

Working Papers from Georgetown 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.

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