Which of the parameters are chosen wisely in the case of EWMA charts to get a desired ARL?

Which of the parameters are chosen wisely in the case of EWMA charts to get a desired ARL? Correct Answer Both, L and λ

We know that in the parameters used for constructing EWMA charts, only L and λ are the design parameters. So we choose them wisely to obtain desired ARL.

Related Questions

Which of this stands correct for the relation between the ARL for a shewhart control chart and the individual control chart ARL?