An economic comparison of CUSUM and Shewhart charts

This paper compares the economic performance of CUSUM and Shewhart schemes for monitoring the process mean. We develop new simple models for the economic design of Shewhart schemes and more accurate ways to evaluate the economic performance of CUSUM schemes. The results of the comparative analysis show that the economic advantage of using a CUSUM scheme rather than the simpler Shewhart chart is substantial only when a single measurement is available at each sampling instance, i.e., only when the sample size is always n = 1, or when the sample size is constrained to low values.

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