Abstract
A well-known maintenance procedure for stochastically failing units is the age replacement policy (ARP). Under the ARP a unit is replaced on failure, or when it reaches a predetermined critical age.In previous papers concerned with this procedure the authors searched for the optimal critical age to minimize the objective function under discussion. The purpose of this paper is to prove that the ARP itself is the optimal decision rule amongst all reasonable policies.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,General Mathematics,Statistics and Probability
Reference1 articles.
1. Berg M. and Epstein B. (1972) Grouping of preventive maintenance policies. Proceedings of the 1972 NATO Conference on Reliability Testing and Reliability Evaluation. I–C–l–I–C–11.
Cited by
40 articles.
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