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Journal of Korean Society for Quality Management 1985;13(1): 51-. |
Optimal Replacement Policy for a System Subject to Shocks |
Dong-Jin Gang1, Sang-Yong Lee2 |
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ABSTRACT |
A replacement policy for a system subject to shocks where each shock increases the running cost is considered. The shocks arrive to the system according to a nonhomogeneous Poisson process. Optimal replacement policy to minimize the long-run expected cost rate is obtained and some numerical examples are given. |
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