| Summary: | The optimization design of a control chart had been an area of great research interest since the availability of computing resources. Through the use of computer simulations, solutions can be found for this complex problem. However, the optimization of a control chart can be solved through the application of many different objective functions, and as a result, there lies a myriad of solutions.
Some of the popular control charts that are widely studied include the Shewhart control charts and the CUSUM control chart. By utilizing a model that considers the constraint on false, it is possible to design an optimized control chart with a minimized out-of-control loss which is measured by loss function. Furthermore, by implementing curtailment to an optimized control chart, the performance is enhanced. Therefore, the focus of this Final Year Project would be to study the various optimized curtailed Shewhart np control chart and the CUSUM control chart with the use of a performance measure, the loss function.
|
|---|