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Journal of Korean Society for Quality Management 1990;18(2): 1-. |
| Replacement Policies Based on System Age and Random Repair Cost under Imperfect Repair |
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| ABSTRACT |
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Replacement policies based on both the system age and the random repair cost are studied. The system is replaced when it reaches age T (Policy A), or when it fails for the first time after age T (Policy B). If the system fails before age T, the repair cost is estimated and repair is then undertaken if the estimated cost is less than a predetermined limit L ; otherwise, the system is replaced. After repair, the system is as good as new with probability (1-p) or is as good as old with probability P. The expected cost rate is obtained, its behavior is examined, and way of obtaining optimal T and L is explored. |
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