Abstract
The motivation for this study is to analyze Bayesian exponentially weighted moving average (EWMA) control chart under 3 loss functions namely, SELF, LLF, and PLF. Informative priors (normal and mixture of normal) and non-informative priors (Uniform and Jefferys) are considered for the analysis. The performance of Bayesian EWMA control chart using posterior and posterior predictive distribution scheme has been evaluated using average run length (ARL) and standard deviation run length (SDRL) as performance measures. Monte Carlo simulations are used to compute the performance measures for different values of smoothing constant. An illustrative example is also presented for practical considerations of Bayesian EWMA control chart.
| Original language | English |
|---|---|
| Pages (from-to) | 2653-2665 |
| Number of pages | 13 |
| Journal | Quality and Reliability Engineering International |
| Volume | 33 |
| Issue number | 8 |
| DOIs | |
| State | Published - Dec 2017 |
Bibliographical note
Publisher Copyright:Copyright © 2017 John Wiley & Sons, Ltd.
Keywords
- Bayesian approach
- average run length
- exponentially weighted moving average
- posterior distribution
- prior distribution
ASJC Scopus subject areas
- Safety, Risk, Reliability and Quality
- Management Science and Operations Research
Fingerprint
Dive into the research topics of 'On Bayesian EWMA control charts under different loss functions'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver