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A General Class of Loss Functions with Industrial Applications

Summary: Over the last few years, loss functions have become increasingly important in quality assurance settings. In this paper, we develop a class of loss functions based on inversions of probability density functions and present industrial examples to illustrate monitoring and control using economic loss instead of measurements.

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  • Topics: Statistical Process Control (SPC)
  • Keywords: Process control,Loss functions
  • Author: Spiring, Fred A.; Yeung, Anthony S.
  • Journal: Journal of Quality Technology