Control charts for monitoring the median parameter of Birnbaum‐Saunders distribution

In this paper, we propose control charts for monitoring the Birnbaum‐Saunders (BS) median parameter (scale parameter) on the basis of three estimators. Comparison of the control charts in terms of average run length using probability control limits and those based on asymptotic distribution of three estimators for the median parameter is developed. We also present guidelines for practitioners about the minimum sample size needed to match out‐of‐control average run length with the asymptotic control limits in function of the median parameter after an extensive simulation study. Numerical example illustrates the applied monitoring of BS median parameter.