Year: 2016
Type: article
Abstract: The advent of more complicated control charting schemes has necessitated the use of Monte Carlo simulation (MCS) methods. Unfortunately, few sources exist to study effective design and validation of MCS methods related to control charting. This paper describes the design, issues, considerations and limitations for conducting normal-based control chart MCS studies, including choice of random number generator, simulation size requirements, and accuracy/error in simulation estimation. This paper also describes two design strategies for MCS for control chart evaluations and provides the programming code. As a result, this paper hopes to establish de facto MCS schemes aimed at guiding researchers and practitioners in validation and control-chart evaluation MCS design.
Author: John N. Dyer
Institution: Georgia Southern University
Language: English
Subfield: Statistics, Probability and Uncertainty
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2547425709