Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Conference Papers Conference Paper Faculty Publications- Conference Papers Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Residual-Based Statistical Process Control Charts in the Presence of Multicollinearity: an EWMA Framework with (RK) Estimator Subject The topic of the resource (rk) class estimator; EWMA; Multicollinearity; Process control; Regression control chart; Residual control chart Description An account of the resource Reliability monitoring of financial health requires strong control mechanisms, and the residual chart is an invaluable instrument to perform it. One of the key problems statisticians face while modeling is the problem of multicollinearity which arises when there is a strong correlation between independent variables leading to imprecise coefficient estimates and poor outcomes. To solve this problem and to make sure that the control chart works even with correlated data, we integrated a Weighted Moving Average Exponential smoothing chart within the modeling technique. The theoretical approach assures long-term variability and consistency of the residual control chart. These control charts are used to understand the process and the performances in various sectors. The charts can be used as analytical instruments to help recognize patterns, variations, or anomalies in economic indicators specifically in budget deficit data and facilitate rapid identification of any changes or inconsistencies in the fiscal deficit by policymakers. Further advances in statistical process control are rendered feasible by this study, which deepens the understanding and awareness of the potential uses and implications of the Weighted Moving Average Exponential smoothing chart for fiscal deficit data in the Economic realm. The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024. Creator An entity primarily responsible for making the resource Nancy M.; Joshi H. Source A related resource from which the described resource is derived Lecture Notes in Networks and Systems, Vol-1085 LNNS, pp. 327-340. Publisher An entity responsible for making the resource available Springer Science and Business Media Deutschland GmbH Date A point or period of time associated with an event in the lifecycle of the resource 2024-01-01 Identifier An unambiguous reference to the resource within a given context <a href="https://doi.org/10.1007/978-981-97-6726-7_26" target="_blank" rel="noreferrer noopener">https://doi.org/10.1007/978-981-97-6726-7_26</a> <br /><br /><a href="https://www.scopus.com/inward/record.uri?eid=2-s2.0-85209217434&amp;doi=10.1007%2F978-981-97-6726-7_26&amp;partnerID=40&amp;md5=1abdbab832920095febe12f3482accde" target="_blank" rel="noreferrer noopener">https://www.scopus.com/inward/record.uri?eid=2-s2.0-85209217434&amp;doi=10.1007%2f978-981-97-6726-7_26&amp;partnerID=40&amp;md5=1abdbab832920095febe12f3482accde</a> Rights Information about rights held in and over the resource Restricted Access Relation A related resource ISSN: 23673370; ISBN: 978-981976725-0 Format The file format, physical medium, or dimensions of the resource Online Language A language of the resource English Type The nature or genre of the resource Conference paper Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant Nancy M., Department of Statistics and Data Science, Christ University, Bangalore, India; Joshi H., Department of Statistics and Data Science, Christ University, Bangalore, India