An Economic Replacement Policy,
Abstract
The equipment replacement policy described herein is based on an economic life theory. Additional consideration is given to repair cost in order to develop an operational decision rule. The decision rule is based on a maximum one-time repair cost limit. Application of this decision rule takes advantage of repair cost information in order to improve on a policy of automatic replacement at the end of economic life calculated on the basis of historical data only. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1971
- Accession Number
- AD0723187
Entities
People
- Howard A. Leupp