Multivariate Exponentially Weighted Moving Average Charts for a Mean Based on Its Prediction Distribution |
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Authors: | Ulrich Menzefricke |
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Institution: | 1. Joseph L. Rotman School of Management , University of Toronto , Toronto, Ontario, Canada menzefricke@rotman.utoronto.ca |
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Abstract: | This article develops a control chart for a mean vector when it is monitored by a quadratic form in the exponentially weighted observation vector. A Bayesian approach is used to incorporate parameter uncertainty. We first use a Bayesian predictive distribution to construct the control chart, and we then use a sampling theory approach to evaluate it under various hypothetical specifications for the data generation model. |
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Keywords: | Bayesian analysis Control chart Estimated parameters Mean vector Multivariate EWMA chart Predictive distribution Run length |
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