OPTIMAL GEOMETRIC PROCESS REPLACEMENT POLICIES BASED ON NUMBER OF DOWN TIMES
2011 ◽
Vol 18
(06)
◽
pp. 495-513
Keyword(s):
Long Run
◽
We consider two repair-replacement policies for a cold standby system consisting of two components with a single repairman. It is assumed that each component after repair is not "as good as new". With this assumption by using geometric process we developed two replacement policies based on the number of down times of the component-1. Our problem is to choose optimal replacement policy (k) such that the long run expected reward per unit time of the system maximized. The mathematical expressions for the long run expected reward per unit time are evaluated and corresponding optimal replacement policies are obtained theoretically with numerical example and by simulation study. Also we have discussed Newton–Raphson method to find optimal k.
2011 ◽
Vol 24
(02)
◽
pp. 316
◽
Keyword(s):
2010 ◽
Vol 224
(6)
◽
pp. 963-970
◽
Keyword(s):
2005 ◽
Vol 42
(01)
◽
pp. 1-14
◽
2007 ◽
Vol 38
(12)
◽
pp. 1021-1027
◽
Keyword(s):
2005 ◽
Vol 42
(1)
◽
pp. 1-14
◽
2014 ◽
Vol 47
(5)
◽
pp. 1021-1031
◽
Keyword(s):
2007 ◽
Vol 54
(2)
◽
pp. 192-202
◽
Keyword(s):