Abstract
In this paper, we study a repair replacement model for a stochastically deteriorating system. For the expected discounted reward case, we show that the optimal replacement policy is of the form ‘replace at the time of the Nth failure'.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,General Mathematics,Statistics and Probability
Reference13 articles.
1. Geometric process and replacement problem;Yeh;Acta Math. Appl. Sinica,1988b
2. Stochastic models for successive failures;Downton;Proc. 38th Session Internat. Statist. Inst,1971
Cited by
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