Economic statistical design of control chart for individual observations of exponential distribution
Volume 10, Issue 2, Summer 2020, Pages 135-144
https://doi.org/10.48313/jqem.2020.122462
Ali Akbar Heydari, Masoud Tavakoli
Abstract In this paper, an economic statistical design of control chart is presented for individual qualitative characteristics that have an exponential distribution. For this purpose, we first convert the exponential distribution of individual observations to the normal distribution using the approximation proposed by Nelson. Then, using Costa and Rahim economic model, we have obtained an economic statistical design for the transformed observations. In order to optimize the model parameters that are calculated based on the design parameters, we have obtained the optimal values of the design parameters using the honey bee algorithm. Finally, the results of the economic statistical design of the control chart are compared with the economic design and the positive performance of the economic statistical design compared to the economic design is shown. Also, by simulated data from the exponential distribution, the efficiency and performance of the introduced control chart in comparison with the case that the distribution of the qualitative characteristics is normal, has been investigated.