Related papers: Monitoring the Multivariate Coefficient of Variati…
During the recent years there was an increased interest in studying the performance of different types of control charts, under various distributional models for continuous proportions, such as percentages and rates. In this work we…
Industrial applications often exhibit multiple in-control patterns due to varying operating conditions, which makes a single functional linear model (FLM) inadequate to capture the complexity of the true relationship between a functional…
A scope in quality control, which has recently received a great deal of attention is profile that characterizes the quality of a product or process by a relationship between two or more variables. In this paper, we propose an EWMA chart for…
Maintaining the quality of manufactured products at a desired level is known to increase customer satisfaction and profitability. Shewhart control chart is the most widely used in statistical process control (SPC) technique to monitor the…
In this paper, we propose the multivariate range Value-at-Risk (MRVaR) and the multivariate range covariance (MRCov) as two risk measures and explore their desirable properties in risk management. In particular, we explain that such…
Control charts, as had been used traditionally for quality monitoring, were applied alternatively to monitor systems' reliability. In other words, they can be applied to detect changes in the failure behavior of systems. Such purpose…
Multivariate Exponentially Weighted Moving Average, MEWMA, charts are popular, handy and effective procedures to detect distributional changes in a stream of multivariate data. For doing appropriate performance analysis, dealing with the…
In many industrial manufacturing processes, the quality of products depends on the relation between two main ingredients or characteristics. Often, this calls for monitoring the ratio of two normal random variables with statistical process…
Shewhart Control Charts (SCC)s are constructed under the assumption of normality and are widely recognized in statistical quality control by numerous researchers. Problems arise when the distribution of process data does not conform to a…
Simultaneously monitoring changes in both the mean and variance is a fundamental problem in Statistical Process Control, and numerous methods have been developed to address it. However, many existing approaches face notable limitations:…
In this article an SPC case study is presented. It consists of monitoring a manufacturing process used for different products of similar kind. So far, each of these products is monitored individually. However, if there is e.g. a quality…
Monitoring of project performance is a crucial task of project managers that significantly affect the project success or failure. Earned Value Management (EVM) is a well-known tool to evaluate project performance and effective technique for…
Regression control charts are usually used to monitor variables of interest that are related to control variables. However, for fraction and/or proportion data, the use of standard regression control charts may not be adequate, since the…
In recent years, the monitoring of compositional data using control charts has been investigated in the Statistical Process Control field. In this study, we will design a Phase II Multivariate Exponentially Weighted Moving Average (MEWMA)…
CVaR (Conditional Value at Risk) is a risk metric widely used in finance. However, dynamically optimizing CVaR is difficult since it is not a standard Markov decision process (MDP) and the principle of dynamic programming fails. In this…
Neural control variates (NCVs) have emerged as a powerful tool for variance reduction in Monte Carlo (MC) simulations, particularly in high-dimensional problems where traditional control variates are difficult to construct analytically. By…
Risk sensitive decision making finds important applications in current day use cases. Existing risk measures consider a single or finite collection of random variables, which do not account for the asymptotic behaviour of underlying…
There is a considerable amount of ongoing research on the use of Bayesian control charts for detecting a shift from a good quality distribution to a bad quality distribution in univariate and multivariate processes. It is widely claimed…
In modern Industry 4.0 applications, a huge amount of data is acquired during manufacturing processes that are often contaminated with anomalous observations in the form of both casewise and cellwise outliers. These can seriously reduce the…
Thanks to high-tech measurement systems like sensors, data are often collected with high frequency in modern industrial processes. This phenomenon could potentially produce autocorrelated and cross-correlated measurements. It has been shown…