Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart

Wai Chung Yeong; Michael Boon Chong Khoo; Sok Li Lim; Wei Lin Teoh

doi:10.1109/I4CT.2015.7219541

Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart

Wai Chung Yeong
, Michael Boon Chong Khoo
, Sok Li Lim
, Wei Lin Teoh

Research output: Chapter in Book/Report/Conference proceeding › Conference Paper › Research › peer-review

Abstract

The optimal choice of design parameters has a huge impact on a control chart's performance. The economic-statistical design balances the economic and statistical performance of a chart, by selecting design parameters which minimize the cost subjected to statistical constraints. To compute the quality loss as a result of deviations from the target value, quality loss functions are often used. However, practitioners may incorrectly choose the wrong type of loss function to describe the quality loss. This paper studies the effects when the type of loss function is misspecified. This study is done on the synthetic X chart. We focus our attention on the linear, quadratic and exponential loss functions.

Original language	English
Title of host publication	I4CT 2015 - 2015 2nd International Conference on Computer, Communications, and Control Technology, Art Proceeding
Publisher	IEEE, Institute of Electrical and Electronics Engineers
Pages	77-81
Number of pages	5
ISBN (Electronic)	9781479979523
DOIs	https://doi.org/10.1109/I4CT.2015.7219541
Publication status	Published - 2015
Externally published	Yes
Event	International Conference on Computer, Communications, and Control Technology 2015 - Kuching, Sarawak, Malaysia Duration: 21 Apr 2015 → 23 Apr 2015 Conference number: 2nd https://ieeexplore.ieee.org/xpl/conhome/7194237/proceeding (Proceedings)

Conference

Conference	International Conference on Computer, Communications, and Control Technology 2015
Abbreviated title	I4CT 2015
Country/Territory	Malaysia
City	Kuching, Sarawak
Period	21/04/15 → 23/04/15
Internet address	https://ieeexplore.ieee.org/xpl/conhome/7194237/proceeding (Proceedings)

Keywords

economic-statistical design
misspecification
quality loss function
synthetic chart

Access to Document

10.1109/I4CT.2015.7219541

Cite this

Yeong, W. C., Khoo, M. B. C., Lim, S. L., & Teoh, W. L. (2015). Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart. In I4CT 2015 - 2015 2nd International Conference on Computer, Communications, and Control Technology, Art Proceeding (pp. 77-81). IEEE, Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/I4CT.2015.7219541

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title = "Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart",

abstract = "The optimal choice of design parameters has a huge impact on a control chart's performance. The economic-statistical design balances the economic and statistical performance of a chart, by selecting design parameters which minimize the cost subjected to statistical constraints. To compute the quality loss as a result of deviations from the target value, quality loss functions are often used. However, practitioners may incorrectly choose the wrong type of loss function to describe the quality loss. This paper studies the effects when the type of loss function is misspecified. This study is done on the synthetic X chart. We focus our attention on the linear, quadratic and exponential loss functions.",

keywords = "economic-statistical design, misspecification, quality loss function, synthetic chart",

author = "Yeong, \{Wai Chung\} and Khoo, \{Michael Boon Chong\} and Lim, \{Sok Li\} and Teoh, \{Wei Lin\}",

note = "Publisher Copyright: {\textcopyright} 2015 IEEE.; International Conference on Computer, Communications, and Control Technology 2015, I4CT 2015 ; Conference date: 21-04-2015 Through 23-04-2015",

year = "2015",

doi = "10.1109/I4CT.2015.7219541",

language = "English",

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booktitle = "I4CT 2015 - 2015 2nd International Conference on Computer, Communications, and Control Technology, Art Proceeding",

publisher = "IEEE, Institute of Electrical and Electronics Engineers",

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Yeong, WC, Khoo, MBC, Lim, SL & Teoh, WL 2015, Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart. in I4CT 2015 - 2015 2nd International Conference on Computer, Communications, and Control Technology, Art Proceeding. IEEE, Institute of Electrical and Electronics Engineers, pp. 77-81, International Conference on Computer, Communications, and Control Technology 2015, Kuching, Sarawak, Malaysia, 21/04/15. https://doi.org/10.1109/I4CT.2015.7219541

Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart. / Yeong, Wai Chung; Khoo, Michael Boon Chong; Lim, Sok Li et al.
I4CT 2015 - 2015 2nd International Conference on Computer, Communications, and Control Technology, Art Proceeding. IEEE, Institute of Electrical and Electronics Engineers, 2015. p. 77-81.

Research output: Chapter in Book/Report/Conference proceeding › Conference Paper › Research › peer-review

TY - GEN

T1 - Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart

AU - Yeong, Wai Chung

AU - Khoo, Michael Boon Chong

AU - Lim, Sok Li

AU - Teoh, Wei Lin

N1 - Conference code: 2nd

PY - 2015

Y1 - 2015

N2 - The optimal choice of design parameters has a huge impact on a control chart's performance. The economic-statistical design balances the economic and statistical performance of a chart, by selecting design parameters which minimize the cost subjected to statistical constraints. To compute the quality loss as a result of deviations from the target value, quality loss functions are often used. However, practitioners may incorrectly choose the wrong type of loss function to describe the quality loss. This paper studies the effects when the type of loss function is misspecified. This study is done on the synthetic X chart. We focus our attention on the linear, quadratic and exponential loss functions.

AB - The optimal choice of design parameters has a huge impact on a control chart's performance. The economic-statistical design balances the economic and statistical performance of a chart, by selecting design parameters which minimize the cost subjected to statistical constraints. To compute the quality loss as a result of deviations from the target value, quality loss functions are often used. However, practitioners may incorrectly choose the wrong type of loss function to describe the quality loss. This paper studies the effects when the type of loss function is misspecified. This study is done on the synthetic X chart. We focus our attention on the linear, quadratic and exponential loss functions.

KW - economic-statistical design

KW - misspecification

KW - quality loss function

KW - synthetic chart

UR - https://www.scopus.com/pages/publications/84944383438

U2 - 10.1109/I4CT.2015.7219541

DO - 10.1109/I4CT.2015.7219541

M3 - Conference Paper

AN - SCOPUS:84944383438

SP - 77

EP - 81

BT - I4CT 2015 - 2015 2nd International Conference on Computer, Communications, and Control Technology, Art Proceeding

PB - IEEE, Institute of Electrical and Electronics Engineers

T2 - International Conference on Computer, Communications, and Control Technology 2015

Y2 - 21 April 2015 through 23 April 2015

ER -

Effects of misspecification of the loss function on the economic-statistical design of the synthetic X chart

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Conference

Keywords

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