Question: Consider the valve failure data in Example 7.6. Set up a one-sided CUSUM chart for monitoring and detecting an increase in failure rate of the

Consider the valve failure data in Example 7.6. Set up a one-sided CUSUM chart for monitoring and detecting an increase in failure rate of the valve. Assume that the target value of the mean time between failures is 700 hr.
µ0 = 700, h = 5, k = 0.5, estimate σ using the average moving range

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