Economic Design of EWMA Charts with Variable Sampling Intervals

Control charting is a graphical expression and operation of statistical hypothesis testing. In the present paper, we develop the economic design of the variable sampling intervals (VSI) exponentially weighted moving average (EWMA) charts to determine the values of the six test parameters of the charts (i.e., the sample size, the long sampling interval, the short sampling interval, the warning limit coefficient, the control limit coefficient, and exponential weight constant) such that the expected total cost is minimized. The genetic algorithm (GA) is applied to search for the optimal values of the six test parameters of the VSI EWMA chart, and an example is provided to illustrate the solution procedure. A sensitivity analysis is then carried out to investigate the effects of model parameters on the solution of the economic design.

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