Bayesian inference in control charts using normal prior

Abstract

The Control Chart is a method of quality control which utilizes statistical methods to monitor and manage processes and based on the sampling inspections and chart performance. This issue is currently being researched into the economic planning of control chart. The traditional approach to design control chart utilizes the traditional structure of control plot to determine the value of parameters of the chart, namely: The sample size, sample interval and control chart limits for achieving economic needs. Under Bayes estimate framework, focus on defining the optimal control policy based on posterior probabilities, thereby reducing total expected costs in the given finite time horizon or the expected average long-term costs.