Overview of Techniques and Performance Comparison of Control Charts

Loke, Li Voon (2019) Overview of Techniques and Performance Comparison of Control Charts. Bachelor's Thesis, Mathematics.

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Abstract

This paper gives an overview of different techniques used to construct a control chart, after which a comparison is made to compare their performance. The first section introduces the basic techniques, namely the Exponentially Weighted Moving Average (EWMA) and Cumulative Sum (CUSUM) control chart. These techniques are later used as a basis for monitoring a process modelled by a linear regression. The estimators of the regression model are obtained from ordinary least squares method and Bayesian inference. Results show that the Bayesian approach performs better on average under the EWMA control chart. A comparison between T2 EWMA and T2 CUSUM shows that the methods are similar and their performance depends on the values of the parameters. In general, smaller values of parameters in either control chart increases the sensitivity of the chart towards small shifts.

Item Type:	Thesis (Bachelor's Thesis)
Supervisor name:	Grzegorczyk, M.A. and Jacobs, R.
Degree programme:	Mathematics
Thesis type:	Bachelor's Thesis
Language:	English
Date Deposited:	05 Jul 2019
Last Modified:	09 Jul 2019 09:59
URI:	https://fse.studenttheses.ub.rug.nl/id/eprint/19891

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