A simulation study of the impact of forecast recovery for control charts applied to ARMA processes

A simulation study of the impact of forecast recovery for control charts applied to ARMA processes

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Article ID: iaor2005430
Country: United States
Volume: 1
Issue: 2
Start Page Number: 343
End Page Number: 353
Publication Date: Oct 2002
Journal: Journal of Modern Applied Statistical Methods
Authors: , ,
Keywords: simulation
Abstract:

Forecast-based schemes are often used to monitor autocorrelated processes, but the resulting forecast recovery has a significant effect on the performance of control charts. This article describes forecast recovery for autocorrelated processes, and the resulting simulation study is used to explain the performance of control charts applied to forecast errors.

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