A New Maximum EWMA Control Chart for Simultaneously Monitoring Process Mean and Dispersion Using Auxiliary Information

The maximum exponentially weighted moving average (MaxEWMA) control charts have gained considerable attention for simultaneously detecting both increases and decreases in the mean and/or dispersion of a process. In this paper, we propose a new auxiliary information‐based (AIB) MaxEWMA control chart, called the AIB‐MaxEWMA chart. The AIB‐MaxEWMA chart encompasses the existing MaxEWMA chart. Extensive Monte Carlo simulations are performed to evaluate the average run length, standard deviation of the run length, and diagnostic abilities of the AIB‐MaxEWMA chart. An extensive comparison reveals that the AIB‐MaxEWMA chart performs uniformly better than the MaxEWMA chart. An example is also used to explain the implementation and working of the AIB‐MaxEWMA chart. Copyright © 2017 John Wiley & Sons, Ltd.