SURVEILLANCE PROBLEMS: A BREAKDOWN MODEL
Abstract
An economic model for the surveillance of a production process is proposed and studied. The state of the production process is described by a Poisson stochastic process, denoted by x(t), with x0 corresponding to the best state. The production process is such that at any instant of time it may go to the next state or may break down. Breakdown can be thought of as a state with a very large negative income. When x(t) x, the income per unit of time is i(x). i(x) is assumed to be a nonincreasing function of x (x 0). Repair is the essential part of the model which is decided by observing the production process continuously. It is assumed that the observation can be made without cost and that the result is known immediately. The cost of repair depends on how the process comes to stop. The time between the commencement of operations following repairs and the recurrence of that event is defined as a cycle.
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 01, 1963
- Accession Number
- AD0414639
Entities
People
- Jagdish K. Patel
Organizations
- University of Minnesota