Applications residual control charts based on variable limits
The main purpose of this paper is to verify the stability of a productive process in the presence of the effects of autocorrelation and volatility, in order to capture these characteristics by a joint forecast model which produces residuals that are evaluated by a control chart based on variable con...
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| Other Authors: | , , , |
| Format: | article |
| Language: | eng |
| Published: |
2017
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10071/13593 |
| Country: | Portugal |
| Oai: | oai:repositorio.iscte-iul.pt:10071/13593 |
| Summary: | The main purpose of this paper is to verify the stability of a productive process in the presence of the effects of autocorrelation and volatility, in order to capture these characteristics by a joint forecast model which produces residuals that are evaluated by a control chart based on variable control limits. The methodology employed will be the joint estimation of the residuals by ARIMA – ARCH models and the conditional standard deviation from residuals to establish the chart control limits. The joint AR (1)-ARCH (1) model shows that an appropriate forecasting model brings a great contribution to the performance of residual control charts in monitoring the stability of industrial variables using just one chart to monitor mean and variance together |
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