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On Some Observing and Replacement Policies

In: Mathematical Statistics and Probability Theory

Author

Listed:
  • Dragan M. Banjevic

    (University of Belgrade, Faculty for Natural and Mathematical Sciences)

  • Ranko R. Nedeljkovic

    (University of Belgrade, Faculty for Traffic and Transport Engineering)

Abstract

The interval between two failures of an equipment is a random variable. In order to keep the equipment in operation, the preventive replacements are performed. In this paper it is considered that there are certain periods of time in which the equipment works unobserved. There are losses due to failures, costs of the preventive replacements, as well as of the control of the equipment. The loss is also caused when the equipment fails during an unobserved period. The bounds on the loss function and optimal observing and replacement policies are discussed.

Suggested Citation

  • Dragan M. Banjevic & Ranko R. Nedeljkovic, 1987. "On Some Observing and Replacement Policies," Springer Books, in: P. Bauer & F. Konecny & W. Wertz (ed.), Mathematical Statistics and Probability Theory, pages 25-31, Springer.
    • Handle: RePEc:spr:sprchp:978-94-009-3965-3_3
    DOI: 10.1007/978-94-009-3965-3_3
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