The Economic Design of Simple Linear Profiles

Control charts are powerful tools to monitor process. Design of control chart is usually performed through two ways, statistical and economical approaches Sometimes, a relationship, commonly called profile, between a response variable and one or more explanatory variables is defined for process monitoring. Various control charts proposed up to now to monitor profiles have not been designed economically. The importance of an economic design of profiles is significant. This is due to difference in some concepts and numerous of parameters. In this paper, for one of the monitoring approaches, which use three exponentially weighted moving average control charts simultaneously, cost function is presented and this approach is redesigned economically. In addition, the average run length calculating model is developed using the Markov chain method. This economic design is applied for a numerical example and solved by Nelder-Mead downhill simplex method and the optimal values of parameters are calculated.