Purpose – The purpose of this paper is to explore the relationship between multivariate process capability indices and loss functions for both nominal‐the‐best and smaller‐the‐better cases, so the likelihood and consequences resulting from the nonconforming of a manufacturing process...

In manufacturing industry there is growing interest in measures of process capability under multivariate setting. While there are many statistical packages to assess univariate capability, a current problem with the multivariate measures of capability is the shortage of user friendly software....

In this paper, we present a new approach of correlated risk assessment by linking the multiple process capability indices and loss functions, in which the multivariate process capability indices and multivariate loss functions describe the likelihood and consequences as a result of...

In manufacturing industry there is growing interest in measures of process capability under multivariate setting. While there are many statistical packages to assess univariate capability, a current problem with the multivariate measures of capability is the shortage of user friendly software....

The objective of this paper is to compare the accuracy of crop insurance rating methods based on historical liability and indemnity data (similar to the procedure currently used by the Risk Management Agency) and “yield distribution” approaches. Estimated rates are compared to “true”...

Some stylized facts for foreign exchange and stock market returns are explored using statistical methods. Formal statistics for testing presence of autocorrelation, asymmetry, and other deviations from normality are applied to these ?nancial returns. Dynamic correlations and di¤erent kernel...