The Tradeoff between Slow and Fast Repair: Illustrations of the Optimal Operating Policy for the Machine Repair Problem.
Abstract
The report extends and illustrates numerically a Markov decision formulation of the machine repair problem with a choice of service between two facilities; one slow but inexpensive and the other fast but expensive. In particular the authors consider a system consisting of at most m machines operating simultaneously.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 31, 1973
- Accession Number
- AD0755543
Entities
People
- Richard C. Morey
- Robert D. Mcknight
Organizations
- South Dakota School of Mines and Technology