Page 183 - Special Topic Session (STS) - Volume 3
P. 183
STS539 Chenglong Li
worse in many cases. From the above, the SPRT chart is highly competitive,
compared to those classical recommendations for individual observations.
Figure 1 Cost increase of the CUSUM schemes relative to the SPRT scheme
5. Conclusion
In this paper, we construct an economic model for optimally designing the
SPRT chart. The results show that the SPRT chart maintains preponderant
economic superiority under various process scenarios and is supposed to be
attractive in practice.
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