scholarly journals Bayesian Estimation and Prediction for the Power Law Process with Left-Truncated Data

2021 ◽  
Vol 9 (3) ◽  
pp. 445-470
Author(s):  
Guo-Liang Tian ◽  
Man-Lai Tang ◽  
Jun-Wu Yu
Keyword(s):  
Bayesian Estimation ◽  
Power Law ◽  
Truncated Data ◽  
Power Law Process ◽  
Estimation And Prediction ◽  
Left Truncated Data

Study on Effect of Left-Truncated Data Rate on ML Estimation for Power Law Process

2019 ◽  
Vol 22 (9) ◽  
pp. 688-697
Author(s):  
Alfonsus Julanto Endharta ◽  
Jongwoon Kim ◽  
Sung-Soo Choi
Keyword(s):  
Power Law ◽  
Data Rate ◽  
Ml Estimation ◽  
Truncated Data ◽  
Power Law Process ◽  
Left Truncated Data

scholarly journals Bayesian estimation of a power law process with incomplete data

2021 ◽  
Vol 32 (1) ◽  
pp. 243-251
Author(s):  
Hu Junming ◽  
Huang Hongzhong ◽  
Li Yanfeng
Keyword(s):  
Bayesian Estimation ◽  
Power Law ◽  
Incomplete Data ◽  
Power Law Process

Optimization of Leased Equipment Maintenance Policy Based on History Failure Data

2021 ◽  
pp. 2150030
Author(s):  
Ke Dong ◽  
Kehong Chen
Keyword(s):  
Power Law ◽  
Cost Model ◽  
Maintenance Strategy ◽  
Maintenance Policy ◽  
Power Law Process ◽  
Total Cost ◽  
Cost Rate ◽  
Failure Data ◽  
Expected Total Cost ◽  
The Cost

We propose a maintenance policy for new equipment on a repair-refund maintenance strategy in this paper and derive the optimal lease period from the lessor’s perspective based on independent and identical distribution of historical failure data which obey power law process. The cost model of a full refund and a proportional refund is studied, and the corresponding optimal leasing period is determined by reducing the expected total cost rate to the largest extent. We use a numerical example to illustrate the proposed cost model and analyze the sensitivity of related parameters. Furthermore, we show that the proportional refund policy is preferable than a full refund to the lessor. Finally, according to the simulation outcome, the proposed methods are effective and instructions for lessor in regard to equipment lease are provided.

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