A hybrid Nelder-Mead simplex and PSO approach on economic and economic-statistical designs of MEWMA control charts

Barzinpour, F ; Sharif University of Technology | 2013

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  1. Type of Document: Article
  2. DOI: 10.1007/s00170-012-4260-7
  3. Publisher: 2013
  4. Abstract:
  5. Economic design of a control chart involves determining its basic parameters such that a cost function is minimized. This design when statistical performance measures are also considered is referred to as the economic-statistical design. In this paper, a simplex-based Nelder-Mead algorithm is used in combination with a particle swarm meta-heuristic procedure to solve both the economic and economic-statistical designs of a MEWMA control chart. The application results on extensive simulation experiments show that the particle swarm can lead the Nelder-Mead algorithm to better results. Furthermore, a comparative study is performed on the performances of three different algorithms of the Nelder-Mead, the particle swarm optimization (PSO), and the hybrid PSO and Nelder-Mead (PSO-NM). In this study, five different performance measures are taken into consideration and the results for both the economic and the economic-statistical models are reported at the end
  6. Keywords:
  7. Comparative study ; Control chart ; Economic-statistical design ; Particle swarm optimization ; Comparative studies ; Control charts ; Economic design ; Economic-statistical designs ; MEWMA ; Nelder-Mead simplex search ; Design ; Flowcharting ; Heuristic methods ; Particle swarm optimization (PSO) ; Statistics ; Economic analysis
  8. Source: International Journal of Advanced Manufacturing Technology ; Volume 65, Issue 9-12 , 2013 , Pages 1339-1348 ; 02683768 (ISSN)
  9. URL: http://link.springer.com/article/10.1007%2Fs00170-012-4260-7