(568v) Design of T2 Statistical Control Chart Based on an Economic Criterion
The objective of this paper is to design the T2 statistical control chart based on an economical criterion to monitor product quality of the Tennessee Eastman process. An optimization algorithm is proposed to minimize monitoring costs. A sensitivity analysis is conducted on the cost parameters of the economical algorithm to determine their effect on the cost function. The implementation of a multivariate economical criterion on the design of T2 control chart provides an improved basis for the evaluation and repair of out of control states and result in monitoring cost minimization via optimal sampling schedules. These benefits are in addition to those exist due to the utilization of a statistical based monitoring techniques that are currently used.
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