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The efficiency of CUSUM schemes for monitoring the coefficient of variation
Author(s) -
Tran Phuong Hanh,
Tran Kim Phuc
Publication year - 2016
Publication title -
applied stochastic models in business and industry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.413
H-Index - 40
eISSN - 1526-4025
pISSN - 1524-1904
DOI - 10.1002/asmb.2213
Subject(s) - cusum , control chart , variation (astronomy) , markov chain , coefficient of variation , computer science , statistics , statistical process control , sensitivity (control systems) , ewma chart , mathematics , engineering , physics , astrophysics , process (computing) , electronic engineering , operating system
Continuous surveillance of the coefficient of variation is a quality control issue worthy of consideration in several manufacturing and service‐oriented companies. In this paper, we present a new method to monitor the squared coefficient of variation by means of two one‐sided cumulative sum‐type control charts. We study the run length properties of the proposed charts using a Markov chain approach. Several tables are given in order to show the sensitivity of the proposed charts for different deterministic shift sizes and their performance for the random shift size condition. The results show that the proposed control charts have attractive performance compared with some competing charts and are better in many cases. An illustrative example is discussed on a real dataset. Copyright © 2016 John Wiley & Sons, Ltd.