Research On The Quality Control Charts Of Macroeconomic Indicators

This paper innovatively applys industrial quality control chart methods to the study of the quality of macroeconomic data. New quality control charts for macroeconomic data are proposed based on the traditional quality control charts. In order to make quality control charts, the parameters of the provincial data need to be estimated. In previous studies, in order to discuss easily, there were always two strong assumptions: samples are independent and normally distributed. This article assumes that we do not have these two strong assumptions, and estimates parameters under the conditions of a more general case. In this paper, the interval estimations of relevant samples’ mean and variance from the normal population are given. It further gives the maximum likelihood estimations of mean, variance and correlation coefficient when the correlation coefficient is unknown. The paper also cited a data normalization methods for provincial data. This article then deduced variance’s moment estimation when the sample distribution is unknown and the correlation coefficient is unknown at the same time. Time series methods have also been researched to estimate the parameters. Finally, the theoretical results of this paper is applied to the empirical research of Chinese economic data. The proposed quality control charts, parameter estimation methods have certain theoretical significance, but also have practical value for the relevant statistics department applications.