The economic and economic statistical designs of an X̄ control chart comprise the constrained optimization problem, which involves the simultaneous use of continuous and discrete decision variables. The particle swarm optimization (PSO) technique is adapted to deal with both continuous and discrete variables as required by the optimization problem. A numerical example in the study of Rahim and B...

In economic design of profiles, parameters of a profile are determined such that the total implementation cost is minimized. These parameters consist of the number of set points, n, the interval between two successive sampling, h, and the parameters of a control chart used for monitoring. In this paper, the Lorenzen-Vance cost function is extended to model the costs associated with implementing...

The race to economic superiority is increasingly occurring on a global scale. Competitors from different countries are employing new types of growth strategies in attempts to win that race. The United States cannot, therefore, continue to rely on outdated economic growth strategies, which include an inability to understand the complexity of the typical industrial technology and the synergies am...

OBJECTIVE To review critically the statistical methods used for health economic evaluations in randomised controlled trials where an estimate of cost is available for each patient in the study. DESIGN Survey of published randomised trials including an economic evaluation with cost values suitable for statistical analysis; 45 such trials published in 1995 were identified from Medline. MAIN O...

Currently nZEB design represents a negotiation between energy targets and economic concerns. Whereby, it is indispensable that, staring from very preliminary phase of the project, a synergy between the building and system designers, the energy consultant and the economic valuer is set up. Cost-optimal methodology together with statistical analyses developed with Minitab software was applied to ...

Since the 1990s economists have devoted considerable attention to the study of the relationship between financial markets development and economic growth. In particular, the emergence of stock markets with economic development is an intriguing and interesting aspect of such a relationship, and yet relatively unexplored. This paper examines the most recent findings in the theoretical and empiric...

We formulate thermodynamics of economic systems in terms of an arbitrary probability distribution for a conserved economic quantity. As in statistical physics, thermodynamic macroeconomic variables emerge as the mean value of microeconomic variables and their determination is reduced to the computation of the partition function, starting from an arbitrary function. Explicit hypothetical example...