A SIMPLE STOCHASTIC REPLACEMENT MODEL.
Abstract
The report considers the following problem: Given the failure distribution of an article, a replacement time r, the cost of replacement before failure and the (larger) cost of replacement after failure, find the expected cost per unit service time of using up n articles. An asymptotic formula for cost per unit service time is derived containing second order terms in n. The minimization of cost per unit service time with respect to r is the main objective of the analysis. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 1970
- Accession Number
- AD0708871
Entities
People
- Royce W. Soanes Jr.