A synthetic control chart for the coefficient of variation

The coefficient of variation (CV) control chart has recently been introduced in the literature. Here, the salient features of this chart and the conforming run length chart are integrated to produce a synthetic coefficient of variation (SynCV) chart. The run length profile of the SynCV chart is numerically compared with the originally proposed chart and the upward EWMA-γ2 chart. The SynCV chart outperforms the original CV chart, while the EWMA-γ2 outperforms the SynCV chart for small increases in the CV. However, for large increases in the CV, the SynCV chart outperforms the EWMA-γ2 chart.

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