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Session 11 - Methods: Bootstrap Control Chart For Pareto Percentiles, Ruth Burkhalter
Session 11 - Methods: Bootstrap Control Chart For Pareto Percentiles, Ruth Burkhalter
SDSU Data Science Symposium
Lifetime percentile is an important indicator of product reliability. However, the sampling distribution of a percentile estimator for any lifetime distribution is not a bell shaped one. As a result, the well-known Shewhart-type control chart cannot be applied to monitor the product lifetime percentiles. In this presentation, Bootstrap control charts based on maximum likelihood estimator (MLE) are proposed for monitoring Pareto percentiles. An intensive simulation study is conducted to compare the performance among the proposed MLE Bootstrap control chart and Shewhart-type control chart.