Pareto Distribution-Based Shewhart Control Chart for Early Detection of Process Mean Shifts

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dc.contributor.authorSaghir, A.
dc.contributor.authorRao, G. S.
dc.contributor.authorAslam, M.
dc.contributor.authorJanjua, A. A.
dc.date.accessioned2024-08-19T06:39:57Z
dc.date.available2024-08-19T06:39:57Z
dc.date.issued2024
dc.descriptionFull-text. Available at https://doi.org/10.1007/s44199-024-00071-1
dc.description.abstractThe Pareto distribution is of paramount importance in actuarial science, wealth distribution, finance, etc. This paper introduces a control chart inspired by Shewhart's methodology, designed for monitoring shifts in the Pareto distribution through a repetitive sampling approach. The chart employs a modified statistic that combines shape and threshold parameters as its plotting statistic. Coefficients for the Shewhart-type Pareto chart are computed for two-phase limits. The performance of the suggested chart is assessed in terms of run length characteristics, assuming a shift in the process mean. Additionally, we conduct an efficiency comparison with existing control charts. The findings suggest that, on average, the proposed Pareto chart demonstrates greater efficiency in promptly detecting changes compared to alternative methods. To illustrate the practical application of our approach, we present an example using revenue data.
dc.identifier.citationSaghir, A., Rao, G. S., Aslam, M., & Janjua, A. A. (2024). Pareto Distribution-Based Shewhart Control Chart for Early Detection of Process Mean Shifts. Journal of Statistical Theory and Applications, 23(1), 26-43.
dc.identifier.doi10.1007/s44199-024-00071-1
dc.identifier.otherURL: https://doi.org/10.1007/s44199-024-00071-1
dc.identifier.urihttps://repository.udom.ac.tz/handle/20.500.12661/4720
dc.language.isoen
dc.publisherSpringer Science and Business Media LLC
dc.relation.ispartofJournal of Statistical Theory and Applications
dc.subjectcontrol chart
dc.subjectpareto distribution
dc.subjectrepetitive sampling
dc.subjectperformance measure
dc.subjectaverage run length
dc.titlePareto Distribution-Based Shewhart Control Chart for Early Detection of Process Mean Shifts
dc.typeArticle
oaire.citation.issue1
oaire.citation.volume23
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