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 Special Issue on The Sustainable Development Goals
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Vol. 8,  Special Issue(Bi-yearly)
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MODEL BASED AND MODEL FREE COMBINATION CHARTS FOR CORRELATED DATA

Abstract

Abstract: When significant autocorrelation is present in the data , traditional charts cannot be applied directly to the data. In such situations either control charts are modified to accommodate correlation or an appropriate time series model is fitted for the data and the residuals from the model are monitored with traditional charts. In this paper model based and model- free combination charts for simultaneous monitoring of mean and variance of autocorrelated data are discussed and theirperformance is evaluated and compared based on their ARLKeywords: Autocorrelation, forecast residuals, ARL, AR(1) process

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