Multivariate Statistic Process Control method comparison Part 1: Simulating correlated data and optimizing data generation.
Time to mix it up a bit from my usual game probability related simulation. This week I want to talk about a project I worked on last year in doing simulations for Statistical Process Control.
For a brief primer, Statistical Process Control or SPC is a method used for monitoring something like a manufacturing process. It’s a form of time series analysis where you monitor results of some statistic taken from observing the process and then compare that statistic to a set of limits on a control chart to determine whether or not the distribution of that statistic has likely changed.