## General Solution of Duncan's Model of Economic Design of an X̄-chart |

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approximate method approximate scheme assumed average income average net income average number Basic COCO control chart control limits cost COVO Design Variables Duncan's Approximate Solution Duncan's method Duncan's model equation in h EXP(-Xh expected number false alarms given GO TO 80 H H H H H rH rH H OJ implicit equation income per hour interval between samples Local optimum solution loss function LTN LTN LTN O LTN LTNVO Multiple Choice n and k number of false number of samples Numerical Method obtain OJ OJ OJ OJ oo ONCO ONrH oo oo oo optimum values parameter Data plotted point falls process goes rH H rH LTN rH rH rH Royal Statistical Society sample point sample size samples taken set of values Shewhart shift speed electronic computer Statistical Substituting eq t—CO th sample University of Wisconsin UNVO value of h values of n X-chart