NDLI: Monitoring time and magnitude based on the renewal reward process with a random failure threshold.

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Monitoring time and magnitude based on the renewal reward process with a random failure threshold.

Content Provider	Europe PMC
Author	Ali, Sajid
Copyright Year	2020
Abstract	ABSTRACT Control charts are effective tools to distinguish between special and natural variations and have applications in medical and business industries besides manufacturing industry. Due to the advancement of modern technology, we often deal with the high-quality products, where the traditional process monitoring techniques have certain drawbacks. This article presents a control chart for jointly monitoring time and magnitude based on the renewal reward process. In particular, the focus of this study is to model magnitudes by threshold exceedance. More specifically, assuming a random failure threshold, two cases for magnitude are considered: (i) magnitude is cumulative over time and, (ii) magnitude is non-cumulative or independent over time. A comparative study to show the effectiveness of the proposal is also a part of this study.
Related Links	https://europepmc.org/backend/ptpmcrender.fcgi?accid=PMC9097983&blobtype=pdf
Page Count	38
ISSN	02664763
Volume Number	48
DOI	10.1080/02664763.2020.1723502
PubMed Central reference number	PMC9097983
Issue Number	2
PubMed reference number	35707694
Journal	Journal of Applied Statistics [J Appl Stat]
e-ISSN	13600532
Language	English
Publisher	Taylor & Francis
Publisher Date	2020-02-04
Access Restriction	Open
Rights License	© 2020 Informa UK Limited, trading as Taylor & Francis Group
Subject Keyword	Average run length (ARL) compound Poisson process high-quality process renewal reward process time-between-events control chart time and magnitude monitoring
Content Type	Text
Resource Type	Article
Subject	Statistics and Probability Statistics, Probability and Uncertainty

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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