Comparison of On-Line Control Procedures Based on Taguchi's Model and Random Walk Model
M.S. Srivastava (1995). Comparison of On-Line Control Procedures Based on Taguchi's Model and Random Walk Model. Journal of Statistical Research, Vol. 29, No. 2, pp. 51-58.
Abstract
In this paper, on-line control procedures based on Taguchi's model and assumptions are described and compared with the procedures based on the normal random walk model. The optimum values of the control parameters (the inspection interval, the control limit) and the long run average cost rate are compared. Two examples are given to illustrate the procedure. The estimation of the diffusion parameter and the effect of lag time are also given.