This article is an extension of research conducted by Banerjee and Rahim in 1988. Their general approach is now applied to a multivariate control chart instead of a univariate control chart. A cost model for the economic-statistical design of a Hotelling T 2 control chart is derived to deal with situations involving a Weibull shock model with an increasing failure rate. Application of the proposed T 2 control chart design is demonstrated through a numerical example. A sensitivity analysis of the model is performed.
Relation:
Journal of Statistical Computation and Simulation, 76(12), 1035-1047
