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Activity Number:
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345
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Type:
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Contributed
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Date/Time:
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Tuesday, August 8, 2006 : 2:00 PM to 3:50 PM
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Sponsor:
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Section on Quality and Productivity
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| Abstract - #305903 |
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Title:
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Number of Replications Required in Control Chart Monte Carlo Simulation Studies
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Author(s):
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Jay Schaffer*+ and Myoung-Jin Kim
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Companies:
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University of Northern Colorado and University of Northern Colorado
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Address:
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501 20th Street, Greeley, CO, 80639,
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Keywords:
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control charts ; Monte Carlo simulations ; minimum replications
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Abstract:
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Monte Carlo simulations have been used extensively in studying the performance of control charts. Researchers have used various numbers of replications in their studies, but almost none of them provided justifications for the number of replications used. Currently, there are no empirically based recommendations regarding the required number of replications to ensure accurate results. This research examined six recently published studies to develop recommendations for the minimum number of replications necessary to reproduce the reported results within a specified degree of accuracy. The results of this study indicated that using 10,000 replications was unnecessarily large and a smaller number of replications could be used to reproduce the target ARLs within the 2% error bands satisfying the modified Mundfrom's criteria. In many cases, only 5,000 replications or fewer were required.
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