Estimation of control improvement benefit with α-stable distribution

Abstract

The paper discusses the subject of estimation of potential financial benefits achievable with the rehabilitation (modification or tuning) of the control system. This issue appears almost in any process improvement initiative giving arguments for control upgrades. The subject exists in literature for several years with well established the same limit approach. The procedure is based on the assumption of Gaussian properties of the considered variable reflected in its histogram. Review of industrial data shows frequent situations when process variables are of different character featuring long tails. Such properties are well described by α-stable distributions. This paper presents extension of the method on such general probability density functions family. The analysis is illustrated with the simulation and industrial data examples.