A double screening procedure (DSP), which controls for individual unit misclassification error (IME) as well as average outgoing quality (AOQ), for quality control applications is developed. Screening involves selecting items whose performance is within specifications based on observing one or...

A methodology for determining optimal sampling plans for Bayesian multiattribute acceptance sampling models is developed. Inspections are assumed to be nondestructive and attributes are classified as scrappable or screenable according to the corrective action required when a lot is rejected on a...

Control charts are given for monitoring an input-output model against changes in form, against changes in its coefficients, and against changes in process variance. When a process is not in control due to changes in some coefficients, monitoring shifts to a diagnostic mode to identify the...

An important, recurring problem in statistics involves the determination of strata boundaries for use in stratified sampling. This paper describes a practical method for stratifying a population of observations based on optimal cluster analysis. The goal of stratification is constructing a...

Sharpe's, Treynor's and Jensen's measures have been extensively used for the performance evaluation of mutual funds or portfolios. These three widely used performance measures have been found to be highly correlated with their corresponding risk measures by a number of empirical studies. This...