Triple Homogeneously Weighted Moving Average Charts for Monitoring Process Dispersion

Homogeneously weighted moving average (HWMA) charts have recently achieved popularity for monitoring small changes in process parameters (location and/or dispersion). Furthermore, the DHWMA (double HWMA) and THWMA (triple HWMA) are the advanced versions of the HWMA charts. The HWMA chart for the process dispersion is designed to detect only the upward (one-sided) shift (i.e., process deterioration). Employing a two-sided chart for concurrently detecting both process improvement and process deterioration is an important aspect of statistical process monitoring. By taking this point as motivation, one and two-sided THWMA charts (symbolized as the THWMAV) are proposed for monitoring the process dispersion. The Monte Carlo simulations are performed to investigate the performance behavior of the THWMAV charts in terms of certain performance indicators, including ARL, SDRL, EQL, RARL, and PCI. The comparison among the THWMAV versus existing charts (DHWMAV, HWMAV, TEWMAV, DEWMAV, and EWMAV) indicates that the THWMAV charts outperform the existing charts. Finally, a dataset is also analyzed to illustrate the implementation of the THWMAV charts.