Age Replacement In Simple Systems With Increasing Loss Functions

1 April 1976

journal article
Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Reliability

Vol. R-25 (1) , 32-34
https://doi.org/10.1109/tr.1976.5214948

Abstract

Some age replacement policies are investigated and conditions for the unique existence of an optimum policy are derived. The optimum policy is the one which minimizes the expected cost per unit time over an infinite time span or maximizes the proportion of time during which the system is in operation. Losses have been expressed through increasing operating cost, if the objective is to minimize the expected total cost per unit time and through increasing renewal times if the objective is to maximize the availability of the system.

Keywords

RUNTIME
COST FUNCTION
RANDOM VARIABLES
PREVENTIVE MAINTENANCE
RELIABILITY THEORY
AGING
STOCHASTIC PROCESSES
STOCHASTIC SYSTEMS
ELECTRIC BREAKDOWN
CONTROL SYSTEMS

This publication has 1 reference indexed in Scilit:

Optimum Age Replacement Policies with an Increasing Cost Factor
Technometrics, 1971