The Age Replacement Problem with Minimal Repair and Random Repair Costs

1 December 1979

journal article
Published by Institute for Operations Research and the Management Sciences (INFORMS) in Operations Research

Vol. 27 (6) , 1158-1167
https://doi.org/10.1287/opre.27.6.1158

Abstract

Age replacement policies are investigated. When a unit reaches age T, a preventive replacement is made. If a failure occurs prior to age T and if the random repair cost is less than a fixed constant, a minimal repair is made. Otherwise the unit is replaced at failure.

Keywords

AGE REPLACEMENT
MINIMAL REPAIR
FAILURE OCCURS
FIXED CONSTANT
REPLACEMENT PROBLEM
UNIT REACHES
PREVENTIVE REPLACEMENT

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