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A note on the optimal replacement problem

Published online by Cambridge University Press:  01 July 2016

Lam Yeh
Lam Yeh*
Affiliation:
The Chinese University of Hong Kong
*
∗ Postal Address: Department of Statistics, The Chinese University of Hong Kong, Shatin, N.T., Hong Kong.
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Abstract

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In this note, we study a new repair replacement model for a deteriorating system, in which the successive survival times of the system form a geometric process and are stochastically non-increasing, whereas the consecutive repair times after failure also constitute a geometric process but are stochastically non-decreasing. Two kinds of replacement policy are considered, one based on the working age of the system and the other one determined by the number of failures. The explicit expressions of the long-run average costs per unit time under these two kinds of policy are calculated.

Keywords

REPLACEMENT PROBLEMSTOCHASTIC MONOTONICITYRENEWAL PROCESSES

Information

Type
Letters to the Editor
Information
Advances in Applied Probability , Volume 20 , Issue 2 , June 1988 , pp. 479 - 482
Copyright
Copyright © Applied Probability Trust 1988 

References

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