Optimal Allocations in the Construction of k-Out-of-n Reliability Systems
Abstract
The authors want to build n components so as to form an n component system which will function if at least k of the components function. If x dollars is invested in building a component, then this component will function with probability P(x). Given a total income of A dollars, the problem of interest is to determine how much money should be invested in each component so as to maximize the probability of attaining a functioning system. This problem is considered both in the sequential and in the nonsequential case. Conditions under which it is optimal to allocate A/n units at each stage, when A is your initial fortune, are presented. The special case P(x) = min (x,1) is also considered in detail.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 1973
- Accession Number
- AD0767710
Entities
People
- Cyrus Derman
- Gerald J. Lieberman
- Sheldon M. Ross
Organizations
- University of California, Berkeley