AGE REPLACEMENT POLICY IN UNCERTAIN ENVIRONMENT

Authors

  • Dan A. Ralescu Department of Mathematical Sciences, University of Cincinnati, Cincinnati, OH 45221-0025, USA
  • Kai Yao Department of Mathematical Sciences, Tsinghua University, Beijing 100084, China
Abstract:

Age replacement policy is concerned with finding an optional time tominimize the cost, at which time the unit is replaced even if itdoes not fail. So far, age replacement policy involving random agehas been proposed. This paper will assume the age of the unit is anuncertain variable, and find the optimal time to replace the unit.

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Journal title

volume 10  issue 2

pages  29- 39

publication date 2013-04-29

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