Mangold B, Konopik J (2017)
Publication Language: English
Publication Type: Other publication type
Publication year: 2017
Publisher: Friedrich-Alexander-Universität Erlangen-Nürnberg, Institute for Economics, Nürnberg
Edited Volumes: FAU Discussion Papers in Economics No. 04/2017
City/Town: Erlangen
Open Access Link: http://hdl.handle.net/10419/150013
We introduce a new class of Shewhart control charts, namely the phi-chart. This new class is based on the cumulative paired phi-divergence that generalizes both the cumulative (residual) entropy and the differential entropy. The phi-chart contains several subclasses; of which one has as a special case the G-chart, which uses Gini's mean difference as a measure of dispersion. We investigate the performance of three of the subclasses of phi-charts in a showcase scenario, comparing its average run length under the Gaussian and several alternative distributions. We find especially the new Leik control chart to outperform classical Shewhart charts, which are based on ranks, standard deviation, or Gini's mean difference. Monitoring a production process using phi-charts implies a faster detection of an out-of-control process, which can be crucial for a variety of application areas.
APA:
Mangold, B., & Konopik, J. (2017). A general class of entropy based control charts. Erlangen: Friedrich-Alexander-Universität Erlangen-Nürnberg, Institute for Economics, Nürnberg.
MLA:
Mangold, Benedikt, and Jens Konopik. A general class of entropy based control charts. Erlangen: Friedrich-Alexander-Universität Erlangen-Nürnberg, Institute for Economics, Nürnberg, 2017.
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